Loan Comparison: 2.77% vs 6.5%
5917 Fergus, Colorado Springs, CO 80924 · 4bd/4ba · $799,000
List Price
$799,000
Assumable Rate
2.77%
Remaining Balance
$698,590
Equity Gap
$401,350
Loan Type
VAAdjust Your Scenario
$39,950
$39,950$401,350
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,798/moAssumable @ 2.77% + gap loan
$5,638/moAssumed loan: $2,859/mo
Gap financing: $2,779/mo
Your Savings on This Property
5917 Fergus, Colorado Springs · 2.77% 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 ($401,350) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,950, 5% of purchase price) and a second mortgage for the rest ($361,400 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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