Loan Comparison: 2.7% vs 6.5%
15595 Copperfield, Colorado Springs, CO 80921 · 6bd/4ba · $875,000
List Price
$875,000
Assumable Rate
2.7%
Remaining Balance
$521,848
Equity Gap
$417,949
Loan Type
VAAdjust Your Scenario
$43,750
$43,750$417,949
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 5.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 2.7% + gap loan
$4,994/moAssumed loan: $2,117/mo
Gap financing: $2,877/mo
$260less per month with the assumable
Your Savings on This Property
15595 Copperfield, Colorado Springs · 2.7% VA vs 6.5% conventional
$260
per month
$3,122
per year
$93,670
over 30 years
$158,467
interest saved
How gap financing works: The equity gap ($417,949) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($374,199 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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