Loan Comparison: 2.81% vs 6.5%
712 Walnut, Colorado Springs, CO 80905 · 3bd/1ba · $395,000
List Price
$395,000
Assumable Rate
2.81%
Remaining Balance
$85,933
Equity Gap
$309,067
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$309,067
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 7.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 2.81% + gap loan
$2,578/moAssumed loan: $354/mo
Gap financing: $2,225/mo
Your Savings on This Property
712 Walnut, Colorado Springs · 2.81% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($309,067) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($289,317 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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