Loan Comparison: 2.98% vs 6.5%
8162 Postrock, Colorado Springs, CO 80951 · 4bd/4ba · $470,000
List Price
$470,000
Assumable Rate
2.98%
Remaining Balance
$392,245
Equity Gap
$77,755
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$77,755
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 3.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 2.98% + gap loan
$2,067/moAssumed loan: $1,649/mo
Gap financing: $417/mo
$756less per month with the assumable
Your Savings on This Property
8162 Postrock, Colorado Springs · 2.98% VA vs 6.5% conventional
$756
per month
$9,066
per year
$271,986
over 30 years
$271,986
interest saved
How gap financing works: The equity gap ($77,755) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($54,255 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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