Loan Comparison: 2.77% vs 6.5%
4475 Moonbeam, Colorado Springs, CO 80916 · 3bd/2ba · $349,000
List Price
$349,000
Assumable Rate
2.77%
Remaining Balance
$247,367
Equity Gap
$101,633
Loan Type
VAAdjust Your Scenario
$17,450
$17,450$101,633
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,096/moAssumable @ 2.77% + gap loan
$1,660/moAssumed loan: $1,012/mo
Gap financing: $647/mo
$436less per month with the assumable
Your Savings on This Property
4475 Moonbeam, Colorado Springs · 2.77% VA vs 6.5% conventional
$436
per month
$5,230
per year
$156,906
over 30 years
$156,906
interest saved
How gap financing works: The equity gap ($101,633) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,450, 5% of purchase price) and a second mortgage for the rest ($84,183 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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