Loan Comparison: 3.73% vs 6.5%
54 Goret Drive, Colorado Springs, CO 80911 · 3bd/1ba · $260,000
List Price
$260,000
Assumable Rate
3.73%
Remaining Balance
$195,834
Equity Gap
$64,165
Loan Type
VAAdjust Your Scenario
$13,000
$13,000$64,165
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.73% (VA)
Blended Rate: 4.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,561/moAssumable @ 3.73% + gap loan
$1,262/moAssumed loan: $905/mo
Gap financing: $358/mo
$299less per month with the assumable
Your Savings on This Property
54 Goret Drive, Colorado Springs · 3.73% VA vs 6.5% conventional
$299
per month
$3,585
per year
$107,546
over 30 years
$107,545
interest saved
How gap financing works: The equity gap ($64,165) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,000, 5% of purchase price) and a second mortgage for the rest ($51,165 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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