Loan Comparison: 2.83% vs 6.5%
9322 Dome Run, Colorado Springs, CO 80927 · 5bd/4ba · $925,000
List Price
$925,000
Assumable Rate
2.83%
Remaining Balance
$811,982
Equity Gap
$161,793
Loan Type
VAAdjust Your Scenario
$46,250
$46,250$161,793
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 3.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,554/moAssumable @ 2.83% + gap loan
$4,238/moAssumed loan: $3,349/mo
Gap financing: $888/mo
$1,317less per month with the assumable
Your Savings on This Property
9322 Dome Run, Colorado Springs · 2.83% VA vs 6.5% conventional
$1,317
per month
$15,798
per year
$473,947
over 30 years
$522,722
interest saved
How gap financing works: The equity gap ($161,793) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($46,250, 5% of purchase price) and a second mortgage for the rest ($115,543 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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