Loan Comparison: 3.23% vs 6.5%
745 Herbglen Court, Colorado Springs, CO 80906 · 3bd/3ba · $700,000
List Price
$700,000
Assumable Rate
3.23%
Remaining Balance
$346,849
Equity Gap
$353,151
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$353,151
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 3.23% + gap loan
$3,730/moAssumed loan: $1,506/mo
Gap financing: $2,225/mo
$473less per month with the assumable
Your Savings on This Property
745 Herbglen Court, Colorado Springs · 3.23% VA vs 6.5% conventional
$473
per month
$5,676
per year
$170,277
over 30 years
$170,277
interest saved
How gap financing works: The equity gap ($353,151) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($318,151 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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