Loan Comparison: 2.77% vs 6.5%
11325 Modern Meadow, Colorado Springs, CO 80921 · 4bd/4ba · $530,000
List Price
$530,000
Assumable Rate
2.77%
Remaining Balance
$330,623
Equity Gap
$198,599
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$198,599
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.77% + gap loan
$2,677/moAssumed loan: $1,353/mo
Gap financing: $1,323/mo
$506less per month with the assumable
Your Savings on This Property
11325 Modern Meadow, Colorado Springs · 2.77% VA vs 6.5% conventional
$506
per month
$6,071
per year
$182,133
over 30 years
$181,355
interest saved
How gap financing works: The equity gap ($198,599) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($172,099 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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