Loan Comparison: 2.96% vs 6.5%
2149 Whitewood, Colorado Springs, CO 80910 · 3bd/1ba · $323,000
List Price
$323,000
Assumable Rate
2.96%
Remaining Balance
$298,089
Equity Gap
$24,911
Loan Type
VAAdjust Your Scenario
$16,150
$16,150$24,911
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,940/moAssumable @ 2.96% + gap loan
$1,318/moAssumed loan: $1,250/mo
Gap financing: $67/mo
$622less per month with the assumable
Your Savings on This Property
2149 Whitewood, Colorado Springs · 2.96% VA vs 6.5% conventional
$622
per month
$7,462
per year
$223,849
over 30 years
$223,849
interest saved
How gap financing works: The equity gap ($24,911) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,150, 5% of purchase price) and a second mortgage for the rest ($8,761 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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