Loan Comparison: 2.9% vs 6.5%
2579 Malpaso, Colorado Springs, CO 80922 · 3bd/3ba · $355,000
List Price
$355,000
Assumable Rate
2.9%
Remaining Balance
$200,700
Equity Gap
$154,299
Loan Type
VAAdjust Your Scenario
$17,750
$17,750$154,299
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 2.9% + gap loan
$1,885/moAssumed loan: $835/mo
Gap financing: $1,050/mo
$246less per month with the assumable
Your Savings on This Property
2579 Malpaso, Colorado Springs · 2.9% VA vs 6.5% conventional
$246
per month
$2,956
per year
$88,680
over 30 years
$88,679
interest saved
How gap financing works: The equity gap ($154,299) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($136,549 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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