Loan Comparison: 2.9% vs 6.5%
4687 Ports Down, Colorado Springs, CO 80911 · 3bd/3ba · $300,000
List Price
$300,000
Assumable Rate
2.9%
Remaining Balance
$266,900
Equity Gap
$63,144
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$63,144
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 2.9% + gap loan
$1,481/moAssumed loan: $1,111/mo
Gap financing: $370/mo
$320less per month with the assumable
Your Savings on This Property
4687 Ports Down, Colorado Springs · 2.9% VA vs 6.5% conventional
$320
per month
$3,843
per year
$115,305
over 30 years
$145,349
interest saved
How gap financing works: The equity gap ($63,144) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($48,144 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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