Loan Comparison: 3.43% vs 6.5%
5755 Trout Creek Pass Drive, Colorado Springs, CO 80917 · 3bd/2ba · $289,900
List Price
$289,900
Assumable Rate
3.43%
Remaining Balance
$117,120
Equity Gap
$172,780
Loan Type
VAAdjust Your Scenario
$14,495
$14,495$172,780
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.43% (VA)
Blended Rate: 5.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 3.43% + gap loan
$1,628/moAssumed loan: $521/mo
Gap financing: $1,107/mo
$113less per month with the assumable
Your Savings on This Property
5755 Trout Creek Pass Drive, Colorado Springs · 3.43% VA vs 6.5% conventional
$113
per month
$1,352
per year
$40,550
over 30 years
$40,550
interest saved
How gap financing works: The equity gap ($172,780) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,495, 5% of purchase price) and a second mortgage for the rest ($158,285 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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