Loan Comparison: 2.8% vs 6.5%
6440 Stonefly, Colorado Springs, CO 80924 · 4bd/3ba · $557,000
List Price
$557,000
Assumable Rate
2.8%
Remaining Balance
$431,470
Equity Gap
$181,916
Loan Type
VAAdjust Your Scenario
$27,850
$27,850$181,916
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,345/moAssumable @ 2.8% + gap loan
$2,958/moAssumed loan: $1,773/mo
Gap financing: $1,185/mo
$387less per month with the assumable
Your Savings on This Property
6440 Stonefly, Colorado Springs · 2.8% VA vs 6.5% conventional
$387
per month
$4,645
per year
$139,344
over 30 years
$195,730
interest saved
How gap financing works: The equity gap ($181,916) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,850, 5% of purchase price) and a second mortgage for the rest ($154,066 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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