Loan Comparison: 2.98% vs 6.5%
1100 Rosemont, Colorado Springs, CO 80911 · 3bd/2ba · $350,000
List Price
$350,000
Assumable Rate
2.98%
Remaining Balance
$234,931
Equity Gap
$115,588
Loan Type
VAAdjust Your Scenario
$17,500
$17,500$115,588
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 2.98% + gap loan
$1,742/moAssumed loan: $988/mo
Gap financing: $754/mo
$359less per month with the assumable
Your Savings on This Property
1100 Rosemont, Colorado Springs · 2.98% VA vs 6.5% conventional
$359
per month
$4,314
per year
$129,408
over 30 years
$129,927
interest saved
How gap financing works: The equity gap ($115,588) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($98,088 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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