Loan Comparison: 3.65% vs 6.5%
387 Fox Run Circle, Colorado Springs, CO 80921 · 5bd/3ba · $780,000
List Price
$780,000
Assumable Rate
3.65%
Remaining Balance
$266,187
Equity Gap
$513,813
Loan Type
VAAdjust Your Scenario
$39,000
$39,000$513,813
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.65% (VA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,684/moAssumable @ 3.65% + gap loan
$4,538/moAssumed loan: $1,218/mo
Gap financing: $3,320/mo
$146less per month with the assumable
Your Savings on This Property
387 Fox Run Circle, Colorado Springs · 3.65% VA vs 6.5% conventional
$146
per month
$1,752
per year
$52,547
over 30 years
$52,547
interest saved
How gap financing works: The equity gap ($513,813) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,000, 5% of purchase price) and a second mortgage for the rest ($474,813 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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