Loan Comparison: 2.68% vs 6.5%
6379 Pilgrimage, Colorado Springs, CO 80925 · 2bd/3ba · $300,000
List Price
$300,000
Assumable Rate
2.68%
Remaining Balance
$136,879
Equity Gap
$163,447
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$163,447
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 2.68% + gap loan
$1,695/moAssumed loan: $554/mo
Gap financing: $1,141/mo
$106less per month with the assumable
Your Savings on This Property
6379 Pilgrimage, Colorado Springs · 2.68% VA vs 6.5% conventional
$106
per month
$1,275
per year
$38,243
over 30 years
$38,569
interest saved
How gap financing works: The equity gap ($163,447) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($148,447 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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