Loan Comparison: 3.75% vs 6.5%
58 Watson Boulevard, Colorado Springs, CO 80911 · 2bd/1ba · $358,000
List Price
$358,000
Assumable Rate
3.75%
Remaining Balance
$244,394
Equity Gap
$113,605
Loan Type
VAAdjust Your Scenario
$17,900
$17,900$113,605
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 4.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,150/moAssumable @ 3.75% + gap loan
$1,801/moAssumed loan: $1,132/mo
Gap financing: $669/mo
$349less per month with the assumable
Your Savings on This Property
58 Watson Boulevard, Colorado Springs · 3.75% VA vs 6.5% conventional
$349
per month
$4,184
per year
$125,515
over 30 years
$125,514
interest saved
How gap financing works: The equity gap ($113,605) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,900, 5% of purchase price) and a second mortgage for the rest ($95,705 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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