Loan Comparison: 2.96% vs 6.5%
7262 Jagged Tree, Colorado Springs, CO 80927 · 5bd/4ba · $639,900
List Price
$639,900
Assumable Rate
2.96%
Remaining Balance
$427,397
Equity Gap
$212,502
Loan Type
VAAdjust Your Scenario
$31,995
$31,995$212,502
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,842/moAssumable @ 2.96% + gap loan
$3,181/moAssumed loan: $1,793/mo
Gap financing: $1,388/mo
$662less per month with the assumable
Your Savings on This Property
7262 Jagged Tree, Colorado Springs · 2.96% VA vs 6.5% conventional
$662
per month
$7,941
per year
$238,217
over 30 years
$238,216
interest saved
How gap financing works: The equity gap ($212,502) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,995, 5% of purchase price) and a second mortgage for the rest ($180,507 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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