Loan Comparison: 2.84% vs 6.5%
1605 Lehmberg, Colorado Springs, CO 80915 · 4bd/3ba · $435,000
List Price
$435,000
Assumable Rate
2.84%
Remaining Balance
$296,670
Equity Gap
$138,329
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$138,329
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.84% + gap loan
$2,122/moAssumed loan: $1,225/mo
Gap financing: $896/mo
$490less per month with the assumable
Your Savings on This Property
1605 Lehmberg, Colorado Springs · 2.84% VA vs 6.5% conventional
$490
per month
$5,884
per year
$176,512
over 30 years
$176,511
interest saved
How gap financing works: The equity gap ($138,329) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($116,579 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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