Loan Comparison: 2.87% vs 6.5%
1610 Pikes Peak, Colorado Springs, CO 80904 · 4bd/2ba · $525,000
List Price
$525,000
Assumable Rate
2.87%
Remaining Balance
$421,479
Equity Gap
$169,319
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$169,319
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.87% + gap loan
$2,848/moAssumed loan: $1,748/mo
Gap financing: $1,100/mo
$305less per month with the assumable
Your Savings on This Property
1610 Pikes Peak, Colorado Springs · 2.87% VA vs 6.5% conventional
$305
per month
$3,658
per year
$109,729
over 30 years
$175,527
interest saved
How gap financing works: The equity gap ($169,319) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($143,069 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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