Loan Comparison: 2.79% vs 6.5%
11183 Faint Wind, Colorado Springs, CO 80908 · 4bd/3ba · $668,000
List Price
$668,000
Assumable Rate
2.79%
Remaining Balance
$534,136
Equity Gap
$133,864
Loan Type
VAAdjust Your Scenario
$33,400
$33,400$133,864
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.79% (VA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,011/moAssumable @ 2.79% + gap loan
$2,964/moAssumed loan: $2,192/mo
Gap financing: $772/mo
$1,047less per month with the assumable
Your Savings on This Property
11183 Faint Wind, Colorado Springs · 2.79% VA vs 6.5% conventional
$1,047
per month
$12,561
per year
$376,821
over 30 years
$376,821
interest saved
How gap financing works: The equity gap ($133,864) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,400, 5% of purchase price) and a second mortgage for the rest ($100,464 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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