Loan Comparison: 2.7% vs 6.5%
5011 Petrified Forest, Colorado Springs, CO 80924 · 4bd/3ba · $610,000
List Price
$610,000
Assumable Rate
2.7%
Remaining Balance
$428,697
Equity Gap
$230,094
Loan Type
VAAdjust Your Scenario
$30,500
$30,500$230,094
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 2.7% + gap loan
$3,273/moAssumed loan: $1,739/mo
Gap financing: $1,535/mo
$389less per month with the assumable
Your Savings on This Property
5011 Petrified Forest, Colorado Springs · 2.7% VA vs 6.5% conventional
$389
per month
$4,672
per year
$140,164
over 30 years
$188,955
interest saved
How gap financing works: The equity gap ($230,094) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($199,594 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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