Loan Comparison: 3.1% vs 6.5%
4304 Hunting Meadows Circle, Colorado Springs, CO 80916 · 3bd/3ba · $220,000
List Price
$220,000
Assumable Rate
3.1%
Remaining Balance
$164,674
Equity Gap
$55,326
Loan Type
VAAdjust Your Scenario
$11,000
$11,000$55,326
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,321/moAssumable @ 3.1% + gap loan
$1,013/moAssumed loan: $703/mo
Gap financing: $310/mo
$308less per month with the assumable
Your Savings on This Property
4304 Hunting Meadows Circle, Colorado Springs · 3.1% VA vs 6.5% conventional
$308
per month
$3,695
per year
$110,845
over 30 years
$110,845
interest saved
How gap financing works: The equity gap ($55,326) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,000, 5% of purchase price) and a second mortgage for the rest ($44,326 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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