Loan Comparison: 2.81% vs 6.5%
3145 Windjammer, Colorado Springs, CO 80920 · 4bd/3ba · $575,000
List Price
$575,000
Assumable Rate
2.81%
Remaining Balance
$105,286
Equity Gap
$364,427
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$364,427
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 7.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.81% + gap loan
$3,014/moAssumed loan: $433/mo
Gap financing: $2,581/mo
$438less per month with the assumable
Your Savings on This Property
3145 Windjammer, Colorado Springs · 2.81% VA vs 6.5% conventional
$438
per month
$5,261
per year
$157,835
over 30 years
$52,548
interest saved
How gap financing works: The equity gap ($364,427) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($335,677 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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