Loan Comparison: 2.83% vs 6.5%
7219 Issaquah, Colorado Springs, CO 80923 · 5bd/3ba · $645,000
List Price
$645,000
Assumable Rate
2.83%
Remaining Balance
$169,045
Equity Gap
$306,118
Loan Type
VAAdjust Your Scenario
$32,250
$32,250$306,118
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,873/moAssumable @ 2.83% + gap loan
$2,803/moAssumed loan: $697/mo
Gap financing: $2,106/mo
$1,070less per month with the assumable
Your Savings on This Property
7219 Issaquah, Colorado Springs · 2.83% VA vs 6.5% conventional
$1,070
per month
$12,839
per year
$385,162
over 30 years
$215,325
interest saved
How gap financing works: The equity gap ($306,118) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,250, 5% of purchase price) and a second mortgage for the rest ($273,868 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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