Loan Comparison: 2.79% vs 6.5%
11824 Alydar, Colorado Springs, CO 80921 · 4bd/3ba · $829,900
List Price
$829,900
Assumable Rate
2.79%
Remaining Balance
$596,583
Equity Gap
$231,968
Loan Type
VAAdjust Your Scenario
$41,495
$41,495$231,968
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (VA)
Blended Rate: 4.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,983/moAssumable @ 2.79% + gap loan
$3,913/moAssumed loan: $2,448/mo
Gap financing: $1,465/mo
$1,071less per month with the assumable
Your Savings on This Property
11824 Alydar, Colorado Springs · 2.79% VA vs 6.5% conventional
$1,071
per month
$12,846
per year
$385,390
over 30 years
$384,041
interest saved
How gap financing works: The equity gap ($231,968) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,495, 5% of purchase price) and a second mortgage for the rest ($190,473 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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