Loan Comparison: 2.77% vs 6.5%
423 Custer, Colorado Springs, CO 80903 · 2bd/1ba · $450,000
List Price
$450,000
Assumable Rate
2.77%
Remaining Balance
$321,388
Equity Gap
$168,777
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$168,777
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.77% + gap loan
$2,440/moAssumed loan: $1,315/mo
Gap financing: $1,125/mo
$262less per month with the assumable
Your Savings on This Property
423 Custer, Colorado Springs · 2.77% VA vs 6.5% conventional
$262
per month
$3,143
per year
$94,285
over 30 years
$134,450
interest saved
How gap financing works: The equity gap ($168,777) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($146,277 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 423 Custer.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.