Loan Comparison: 2.83% vs 6.5%
2476 Rocklin, Colorado Springs, CO 80915 · 4bd/4ba · $429,900
List Price
$429,900
Assumable Rate
2.83%
Remaining Balance
$254,348
Equity Gap
$175,552
Loan Type
VAAdjust Your Scenario
$21,495
$21,495$175,552
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 2.83% + gap loan
$2,234/moAssumed loan: $1,049/mo
Gap financing: $1,185/mo
$348less per month with the assumable
Your Savings on This Property
2476 Rocklin, Colorado Springs · 2.83% VA vs 6.5% conventional
$348
per month
$4,172
per year
$125,161
over 30 years
$125,161
interest saved
How gap financing works: The equity gap ($175,552) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($154,057 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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