Loan Comparison: 3.35% vs 6.5%
1876 Silver Meadow Circle, Colorado Springs, CO 80951 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.35%
Remaining Balance
$112,938
Equity Gap
$287,062
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$287,062
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 6.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.35% + gap loan
$2,365/moAssumed loan: $498/mo
Gap financing: $1,867/mo
$37less per month with the assumable
Your Savings on This Property
1876 Silver Meadow Circle, Colorado Springs · 3.35% VA vs 6.5% conventional
$37
per month
$441
per year
$13,244
over 30 years
$13,244
interest saved
How gap financing works: The equity gap ($287,062) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($267,062 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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