Loan Comparison: 2.77% vs 6.5%
5310 Old Stagecoach, Colorado Springs, CO 80908 · 5bd/4ba · $1,850,000
List Price
$1,850,000
Assumable Rate
2.77%
Remaining Balance
$1,435,495
Equity Gap
$611,585
Loan Type
VAAdjust Your Scenario
$92,500
$92,500$611,585
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$11,109/moAssumable @ 2.77% + gap loan
$9,867/moAssumed loan: $5,876/mo
Gap financing: $3,991/mo
$1,242less per month with the assumable
Your Savings on This Property
5310 Old Stagecoach, Colorado Springs · 2.77% VA vs 6.5% conventional
$1,242
per month
$14,901
per year
$447,041
over 30 years
$644,121
interest saved
How gap financing works: The equity gap ($611,585) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($92,500, 5% of purchase price) and a second mortgage for the rest ($519,085 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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