Loan Comparison: 2.68% vs 6.5%
6208 Ashmore, Colorado Springs, CO 80927 · 5bd/3ba · $560,000
List Price
$560,000
Assumable Rate
2.68%
Remaining Balance
$362,363
Equity Gap
$197,636
Loan Type
VAAdjust Your Scenario
$28,000
$28,000$197,636
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 2.68% + gap loan
$2,770/moAssumed loan: $1,466/mo
Gap financing: $1,304/mo
$592less per month with the assumable
Your Savings on This Property
6208 Ashmore, Colorado Springs · 2.68% VA vs 6.5% conventional
$592
per month
$7,108
per year
$213,240
over 30 years
$213,239
interest saved
How gap financing works: The equity gap ($197,636) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($169,636 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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