Loan Comparison: 2.98% vs 6.5%
5123 Stillwater, Colorado Springs, CO 80923 · 3bd/2ba · $410,000
List Price
$410,000
Assumable Rate
2.98%
Remaining Balance
$356,960
Equity Gap
$53,040
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$53,040
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 2.98% + gap loan
$1,751/moAssumed loan: $1,501/mo
Gap financing: $250/mo
$711less per month with the assumable
Your Savings on This Property
5123 Stillwater, Colorado Springs · 2.98% VA vs 6.5% conventional
$711
per month
$8,527
per year
$255,813
over 30 years
$255,813
interest saved
How gap financing works: The equity gap ($53,040) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($32,540 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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