Loan Comparison: 2.96% vs 6.5%
7262 Jagged Tree, Colorado Springs, CO 80927 · 5bd/4ba · $650,000
List Price
$650,000
Assumable Rate
2.96%
Remaining Balance
$428,354
Equity Gap
$221,646
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$221,646
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.96% + gap loan
$3,251/moAssumed loan: $1,797/mo
Gap financing: $1,454/mo
$652less per month with the assumable
Your Savings on This Property
7262 Jagged Tree, Colorado Springs · 2.96% VA vs 6.5% conventional
$652
per month
$7,823
per year
$234,692
over 30 years
$234,692
interest saved
How gap financing works: The equity gap ($221,646) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($189,146 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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