Loan Comparison: 3.25% vs 6.5%
4520 Hollyridge Drive, Colorado Springs, CO 80916 · 5bd/3ba · $360,000
List Price
$360,000
Assumable Rate
3.25%
Remaining Balance
$331,780
Equity Gap
$28,220
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$28,220
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.25% (VA)
Blended Rate: 3.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 3.25% + gap loan
$1,515/moAssumed loan: $1,444/mo
Gap financing: $71/mo
$646less per month with the assumable
Your Savings on This Property
4520 Hollyridge Drive, Colorado Springs · 3.25% VA vs 6.5% conventional
$646
per month
$7,755
per year
$232,663
over 30 years
$232,663
interest saved
How gap financing works: The equity gap ($28,220) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($10,220 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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