Loan Comparison: 2.9% vs 6.5%
8071 Gilpin Peak, Colorado Springs, CO 80924 · 4bd/3ba · $625,000
List Price
$625,000
Assumable Rate
2.9%
Remaining Balance
$440,592
Equity Gap
$242,991
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$242,991
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.9% + gap loan
$3,462/moAssumed loan: $1,834/mo
Gap financing: $1,628/mo
$291less per month with the assumable
Your Savings on This Property
8071 Gilpin Peak, Colorado Springs · 2.9% VA vs 6.5% conventional
$291
per month
$3,491
per year
$104,732
over 30 years
$163,315
interest saved
How gap financing works: The equity gap ($242,991) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($211,741 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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