Loan Comparison: 3.07% vs 6.5%
7272 Electronic Drive, Colorado Springs, CO 80922 · 3bd/3ba · $445,000
List Price
$445,000
Assumable Rate
3.07%
Remaining Balance
$376,596
Equity Gap
$68,403
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$68,403
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.07% + gap loan
$1,925/moAssumed loan: $1,602/mo
Gap financing: $323/mo
$747less per month with the assumable
Your Savings on This Property
7272 Electronic Drive, Colorado Springs · 3.07% VA vs 6.5% conventional
$747
per month
$8,968
per year
$269,050
over 30 years
$269,049
interest saved
How gap financing works: The equity gap ($68,403) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($46,153 at 7.5%). 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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