Loan Comparison: 3.93% vs 6.5%
1665 Boxtree Court, Colorado Springs, CO 80906 · 3bd/2ba · $455,000
List Price
$455,000
Assumable Rate
3.93%
Remaining Balance
$177,642
Equity Gap
$277,358
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$277,358
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.93% (VA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 3.93% + gap loan
$2,621/moAssumed loan: $841/mo
Gap financing: $1,780/mo
$111less per month with the assumable
Your Savings on This Property
1665 Boxtree Court, Colorado Springs · 3.93% VA vs 6.5% conventional
$111
per month
$1,331
per year
$39,932
over 30 years
$39,932
interest saved
How gap financing works: The equity gap ($277,358) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($254,608 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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