Loan Comparison: 6.08% vs 6.5%
3153 Loot Drive, Colorado Springs, CO 80939 · 4bd/3ba · $540,000
List Price
$540,000
Assumable Rate
6.08%
Remaining Balance
$511,253
Equity Gap
$28,747
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$28,747
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.08% (VA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 6.08% + gap loan
$3,104/moAssumed loan: $3,092/mo
Gap financing: $12/mo
$139less per month with the assumable
Your Savings on This Property
3153 Loot Drive, Colorado Springs · 6.08% VA vs 6.5% conventional
$139
per month
$1,665
per year
$49,942
over 30 years
$49,942
interest saved
How gap financing works: The equity gap ($28,747) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($1,747 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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