Loan Comparison: 2.9% vs 6.5%
3003 Bella Cima, Colorado Springs, CO 80918 · 6bd/5ba · $800,000
List Price
$800,000
Assumable Rate
2.9%
Remaining Balance
$722,720
Equity Gap
$77,279
Loan Type
VAAdjust Your Scenario
$40,000
$40,000$77,279
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 2.9% + gap loan
$3,295/moAssumed loan: $3,008/mo
Gap financing: $287/mo
$1,509less per month with the assumable
Your Savings on This Property
3003 Bella Cima, Colorado Springs · 2.9% VA vs 6.5% conventional
$1,509
per month
$18,107
per year
$543,203
over 30 years
$543,202
interest saved
How gap financing works: The equity gap ($77,279) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($37,279 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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