Loan Comparison: 2.68% vs 6.5%
180 Cobblestone, Colorado Springs, CO 80906 · 4bd/3ba · $400,000
List Price
$400,000
Assumable Rate
2.68%
Remaining Balance
$354,238
Equity Gap
$45,762
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$45,762
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.68% + gap loan
$1,631/moAssumed loan: $1,433/mo
Gap financing: $198/mo
$771less per month with the assumable
Your Savings on This Property
180 Cobblestone, Colorado Springs · 2.68% VA vs 6.5% conventional
$771
per month
$9,249
per year
$277,461
over 30 years
$277,461
interest saved
How gap financing works: The equity gap ($45,762) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($25,762 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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