Loan Comparison: 3.02% vs 6.5%
2962 Namib, Colorado Springs, CO 80939 · 4bd/3ba · $499,000
List Price
$499,000
Assumable Rate
3.02%
Remaining Balance
$350,441
Equity Gap
$148,558
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$148,558
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.02% + gap loan
$2,432/moAssumed loan: $1,481/mo
Gap financing: $950/mo
$565less per month with the assumable
Your Savings on This Property
2962 Namib, Colorado Springs · 3.02% VA vs 6.5% conventional
$565
per month
$6,775
per year
$203,265
over 30 years
$203,264
interest saved
How gap financing works: The equity gap ($148,558) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($123,608 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2962 Namib.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.