Loan Comparison: 2.68% vs 6.5%
9014 Pennycress, Colorado Springs, CO 80925 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
2.68%
Remaining Balance
$353,345
Equity Gap
$186,655
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$186,655
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.68% + gap loan
$2,692/moAssumed loan: $1,429/mo
Gap financing: $1,262/mo
$10less per month with the assumable
Your Savings on This Property
9014 Pennycress, Colorado Springs · 2.68% VA vs 6.5% conventional
$10
per month
$125
per year
$3,762
over 30 years
$93,762
interest saved
How gap financing works: The equity gap ($186,655) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($164,155 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.
🏠
Back to This Listing
View photos, details, and request a showing for 9014 Pennycress.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.