Loan Comparison: 2.93% vs 6.5%
730 San Miguel, Colorado Springs, CO 80903 · 2bd/1ba · $442,500
List Price
$442,500
Assumable Rate
2.93%
Remaining Balance
$220,891
Equity Gap
$221,608
Loan Type
VAAdjust Your Scenario
$22,125
$22,125$221,608
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.93% (VA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,657/moAssumable @ 2.93% + gap loan
$2,457/moAssumed loan: $923/mo
Gap financing: $1,534/mo
$200less per month with the assumable
Your Savings on This Property
730 San Miguel, Colorado Springs · 2.93% VA vs 6.5% conventional
$200
per month
$2,403
per year
$72,085
over 30 years
$72,084
interest saved
How gap financing works: The equity gap ($221,608) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,125, 5% of purchase price) and a second mortgage for the rest ($199,483 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.
🏠
Back to This Listing
View photos, details, and request a showing for 730 San Miguel.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.