Loan Comparison: 2.69% vs 6.5%
1019 De La Vista, Colorado Springs, CO 80911 · 3bd/2ba · $349,750
List Price
$349,750
Assumable Rate
2.69%
Remaining Balance
$166,064
Equity Gap
$183,685
Loan Type
VAAdjust Your Scenario
$17,488
$17,488$183,685
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.69% (VA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,100/moAssumable @ 2.69% + gap loan
$1,951/moAssumed loan: $673/mo
Gap financing: $1,278/mo
$150less per month with the assumable
Your Savings on This Property
1019 De La Vista, Colorado Springs · 2.69% VA vs 6.5% conventional
$150
per month
$1,794
per year
$53,834
over 30 years
$53,832
interest saved
How gap financing works: The equity gap ($183,685) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,488, 5% of purchase price) and a second mortgage for the rest ($166,197 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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