Loan Comparison: 2.68% vs 6.5%
8361 Colorado Spruce, Colorado Springs, CO 80927 · 5bd/4ba · $545,000
List Price
$545,000
Assumable Rate
2.68%
Remaining Balance
$416,460
Equity Gap
$128,540
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$128,540
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 2.68% + gap loan
$2,464/moAssumed loan: $1,685/mo
Gap financing: $779/mo
$809less per month with the assumable
Your Savings on This Property
8361 Colorado Spruce, Colorado Springs · 2.68% VA vs 6.5% conventional
$809
per month
$9,707
per year
$291,218
over 30 years
$291,218
interest saved
How gap financing works: The equity gap ($128,540) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($101,290 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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