Loan Comparison: 2.77% vs 6.5%
10227 Kentwood, Colorado Springs, CO 80924 · 4bd/3ba · $760,000
List Price
$760,000
Assumable Rate
2.77%
Remaining Balance
$442,990
Equity Gap
$317,009
Loan Type
VAAdjust Your Scenario
$38,000
$38,000$317,009
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,564/moAssumable @ 2.77% + gap loan
$3,959/moAssumed loan: $1,813/mo
Gap financing: $2,145/mo
$605less per month with the assumable
Your Savings on This Property
10227 Kentwood, Colorado Springs · 2.77% VA vs 6.5% conventional
$605
per month
$7,260
per year
$217,811
over 30 years
$217,810
interest saved
How gap financing works: The equity gap ($317,009) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,000, 5% of purchase price) and a second mortgage for the rest ($279,009 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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