Loan Comparison: 2.96% vs 6.5%
711 Bear Paw, Colorado Springs, CO 80906 · 4bd/4ba · $875,000
List Price
$875,000
Assumable Rate
2.96%
Remaining Balance
$667,809
Equity Gap
$207,191
Loan Type
VAAdjust Your Scenario
$43,750
$43,750$207,191
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 2.96% + gap loan
$4,058/moAssumed loan: $2,801/mo
Gap financing: $1,257/mo
$1,196less per month with the assumable
Your Savings on This Property
711 Bear Paw, Colorado Springs · 2.96% VA vs 6.5% conventional
$1,196
per month
$14,355
per year
$430,640
over 30 years
$430,640
interest saved
How gap financing works: The equity gap ($207,191) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($163,441 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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