Loan Comparison: 2.75% vs 6.5%
15545 Pole Pine, Colorado Springs, CO 80908 · 5bd/4ba · $1,335,000
List Price
$1,335,000
Assumable Rate
2.75%
Remaining Balance
$844,155
Equity Gap
$490,845
Loan Type
VAAdjust Your Scenario
$66,750
$66,750$490,845
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,016/moAssumable @ 2.75% + gap loan
$6,707/moAssumed loan: $3,446/mo
Gap financing: $3,261/mo
$1,309less per month with the assumable
Your Savings on This Property
15545 Pole Pine, Colorado Springs · 2.75% VA vs 6.5% conventional
$1,309
per month
$15,709
per year
$471,273
over 30 years
$471,273
interest saved
How gap financing works: The equity gap ($490,845) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($66,750, 5% of purchase price) and a second mortgage for the rest ($424,095 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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