Loan Comparison: 2.81% vs 6.5%
3145 Windjammer, Colorado Springs, CO 80920 · 4bd/3ba · $550,000
List Price
$550,000
Assumable Rate
2.81%
Remaining Balance
$210,071
Equity Gap
$339,928
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$339,928
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 6.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.81% + gap loan
$3,267/moAssumed loan: $864/mo
Gap financing: $2,402/mo
$36less per month with the assumable
Your Savings on This Property
3145 Windjammer, Colorado Springs · 2.81% VA vs 6.5% conventional
$36
per month
$432
per year
$12,948
over 30 years
$12,947
interest saved
How gap financing works: The equity gap ($339,928) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($312,428 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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