Loan Comparison: 2.84% vs 6.5%
3112 Namib, Colorado Springs, CO 80939 · 4bd/3ba · $520,000
List Price
$520,000
Assumable Rate
2.84%
Remaining Balance
$434,976
Equity Gap
$85,024
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$85,024
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.84% + gap loan
$2,250/moAssumed loan: $1,797/mo
Gap financing: $454/mo
$872less per month with the assumable
Your Savings on This Property
3112 Namib, Colorado Springs · 2.84% VA vs 6.5% conventional
$872
per month
$10,464
per year
$313,926
over 30 years
$313,926
interest saved
How gap financing works: The equity gap ($85,024) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($59,024 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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