Loan Comparison: 2.77% vs 6.5%
1709 Colorado, Colorado Springs, CO 80904 · 2bd/1ba · $419,999
List Price
$419,999
Assumable Rate
2.77%
Remaining Balance
$214,902
Equity Gap
$204,599
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$204,599
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 2.77% + gap loan
$2,291/moAssumed loan: $880/mo
Gap financing: $1,412/mo
$231less per month with the assumable
Your Savings on This Property
1709 Colorado, Colorado Springs · 2.77% VA vs 6.5% conventional
$231
per month
$2,768
per year
$83,027
over 30 years
$82,529
interest saved
How gap financing works: The equity gap ($204,599) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($183,599 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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