Loan Comparison: 2.77% vs 6.5%
10227 Kentwood, Colorado Springs, CO 80924 · 4bd/3ba · $770,000
List Price
$770,000
Assumable Rate
2.77%
Remaining Balance
$531,453
Equity Gap
$327,009
Loan Type
VAAdjust Your Scenario
$38,500
$38,500$327,009
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,624/moAssumable @ 2.77% + gap loan
$4,394/moAssumed loan: $2,175/mo
Gap financing: $2,218/mo
$230less per month with the assumable
Your Savings on This Property
10227 Kentwood, Colorado Springs · 2.77% VA vs 6.5% conventional
$230
per month
$2,759
per year
$82,782
over 30 years
$171,244
interest saved
How gap financing works: The equity gap ($327,009) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,500, 5% of purchase price) and a second mortgage for the rest ($288,509 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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