Loan Comparison: 3.81% vs 6.5%
1239 Suncrest Way, Colorado Springs, CO 80906 · 5bd/3ba · $499,000
List Price
$499,000
Assumable Rate
3.81%
Remaining Balance
$295,175
Equity Gap
$203,824
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$203,824
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.81% (VA)
Blended Rate: 5.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.81% + gap loan
$2,628/moAssumed loan: $1,377/mo
Gap financing: $1,251/mo
$369less per month with the assumable
Your Savings on This Property
1239 Suncrest Way, Colorado Springs · 3.81% VA vs 6.5% conventional
$369
per month
$4,422
per year
$132,673
over 30 years
$132,672
interest saved
How gap financing works: The equity gap ($203,824) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($178,874 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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