Loan Comparison: 2.83% vs 6.5%
2476 Rocklin, Colorado Springs, CO 80915 · 4bd/4ba · $419,900
List Price
$419,900
Assumable Rate
2.83%
Remaining Balance
$254,347
Equity Gap
$165,552
Loan Type
VAAdjust Your Scenario
$20,995
$20,995$165,552
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 2.83% + gap loan
$2,161/moAssumed loan: $1,049/mo
Gap financing: $1,112/mo
$361less per month with the assumable
Your Savings on This Property
2476 Rocklin, Colorado Springs · 2.83% VA vs 6.5% conventional
$361
per month
$4,328
per year
$129,843
over 30 years
$129,842
interest saved
How gap financing works: The equity gap ($165,552) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($144,557 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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