Loan Comparison: 2.81% vs 6.5%
7394 Rim Bluff, Colorado Springs, CO 80927 · 4bd/3ba · $650,000
List Price
$650,000
Assumable Rate
2.81%
Remaining Balance
$196,229
Equity Gap
$256,637
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$256,637
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.81% + gap loan
$2,531/moAssumed loan: $807/mo
Gap financing: $1,723/mo
$1,372less per month with the assumable
Your Savings on This Property
7394 Rim Bluff, Colorado Springs · 2.81% VA vs 6.5% conventional
$1,372
per month
$16,467
per year
$494,015
over 30 years
$296,881
interest saved
How gap financing works: The equity gap ($256,637) 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 ($224,137 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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