Loan Comparison: 3.13% vs 6.5%
4886 Rusty Nail Point, Colorado Springs, CO 80916 · 5bd/3ba · $290,000
List Price
$290,000
Assumable Rate
3.13%
Remaining Balance
$247,823
Equity Gap
$42,177
Loan Type
VAAdjust Your Scenario
$14,500
$14,500$42,177
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 3.13% + gap loan
$1,256/moAssumed loan: $1,062/mo
Gap financing: $194/mo
$486less per month with the assumable
Your Savings on This Property
4886 Rusty Nail Point, Colorado Springs · 3.13% VA vs 6.5% conventional
$486
per month
$5,826
per year
$174,794
over 30 years
$174,794
interest saved
How gap financing works: The equity gap ($42,177) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($27,677 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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