Loan Comparison: 3.75% vs 6.5%
1328 Hamstead Court, Colorado Springs, CO 80907 · 4bd/3ba · $475,000
List Price
$475,000
Assumable Rate
3.75%
Remaining Balance
$272,324
Equity Gap
$202,676
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$202,676
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.75% + gap loan
$2,512/moAssumed loan: $1,261/mo
Gap financing: $1,251/mo
$340less per month with the assumable
Your Savings on This Property
1328 Hamstead Court, Colorado Springs · 3.75% VA vs 6.5% conventional
$340
per month
$4,079
per year
$122,384
over 30 years
$122,384
interest saved
How gap financing works: The equity gap ($202,676) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($178,926 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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