Loan Comparison: 2.7% vs 6.5%
2915 Hayman, Colorado Springs, CO 80910 · 3bd/1ba · $365,000
List Price
$365,000
Assumable Rate
2.7%
Remaining Balance
$310,800
Equity Gap
$94,089
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$94,089
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 3.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 2.7% + gap loan
$1,844/moAssumed loan: $1,261/mo
Gap financing: $583/mo
$348less per month with the assumable
Your Savings on This Property
2915 Hayman, Colorado Springs · 2.7% VA vs 6.5% conventional
$348
per month
$4,176
per year
$125,266
over 30 years
$165,155
interest saved
How gap financing works: The equity gap ($94,089) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($75,839 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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