Loan Comparison: 2.9% vs 6.5%
12441 Woodruff, Colorado Springs, CO 80921 · 5bd/3ba · $820,000
List Price
$820,000
Assumable Rate
2.9%
Remaining Balance
$441,449
Equity Gap
$428,243
Loan Type
VAAdjust Your Scenario
$41,000
$41,000$428,243
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,924/moAssumable @ 2.9% + gap loan
$4,815/moAssumed loan: $1,837/mo
Gap financing: $2,978/mo
$109less per month with the assumable
Your Savings on This Property
12441 Woodruff, Colorado Springs · 2.9% VA vs 6.5% conventional
$109
per month
$1,306
per year
$39,169
over 30 years
$88,861
interest saved
How gap financing works: The equity gap ($428,243) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,000, 5% of purchase price) and a second mortgage for the rest ($387,243 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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