Loan Comparison: 2.7% vs 6.5%
7384 Bonterra, Colorado Springs, CO 80925 · 5bd/3ba · $549,000
List Price
$549,000
Assumable Rate
2.7%
Remaining Balance
$369,852
Equity Gap
$234,508
Loan Type
VAAdjust Your Scenario
$27,450
$27,450$234,508
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 2.7% + gap loan
$3,092/moAssumed loan: $1,500/mo
Gap financing: $1,592/mo
$204less per month with the assumable
Your Savings on This Property
7384 Bonterra, Colorado Springs · 2.7% VA vs 6.5% conventional
$204
per month
$2,452
per year
$73,563
over 30 years
$128,923
interest saved
How gap financing works: The equity gap ($234,508) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($207,058 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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