Loan Comparison: 2.77% vs 6.5%
11325 Modern Meadow, Colorado Springs, CO 80921 · 4bd/4ba · $522,500
List Price
$522,500
Assumable Rate
2.77%
Remaining Balance
$329,842
Equity Gap
$192,657
Loan Type
VAAdjust Your Scenario
$26,125
$26,125$192,657
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,137/moAssumable @ 2.77% + gap loan
$2,631/moAssumed loan: $1,350/mo
Gap financing: $1,280/mo
$507less per month with the assumable
Your Savings on This Property
11325 Modern Meadow, Colorado Springs · 2.77% VA vs 6.5% conventional
$507
per month
$6,083
per year
$182,481
over 30 years
$182,480
interest saved
How gap financing works: The equity gap ($192,657) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,125, 5% of purchase price) and a second mortgage for the rest ($166,532 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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