Loan Comparison: 2.74% vs 6.5%
5945 Del Paz, Colorado Springs, CO 80918 · 4bd/4ba · $410,000
List Price
$410,000
Assumable Rate
2.74%
Remaining Balance
$160,205
Equity Gap
$250,151
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$250,151
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 6.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 2.74% + gap loan
$2,419/moAssumed loan: $653/mo
Gap financing: $1,766/mo
$43less per month with the assumable
Your Savings on This Property
5945 Del Paz, Colorado Springs · 2.74% VA vs 6.5% conventional
$43
per month
$515
per year
$15,449
over 30 years
$15,805
interest saved
How gap financing works: The equity gap ($250,151) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($229,651 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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