Loan Comparison: 2.75% vs 6.5%
4185 Solarface, Colorado Springs, CO 80916 · 5bd/3ba · $407,900
List Price
$407,900
Assumable Rate
2.75%
Remaining Balance
$154,161
Equity Gap
$325,367
Loan Type
VAAdjust Your Scenario
$20,395
$20,395$325,367
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 6.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,449/moAssumable @ 2.75% + gap loan
$2,974/moAssumed loan: $629/mo
Gap financing: $2,345/mo
Your Savings on This Property
4185 Solarface, Colorado Springs · 2.75% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($325,367) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,395, 5% of purchase price) and a second mortgage for the rest ($304,972 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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