Loan Comparison: 3.55% vs 6.5%
9221 Chieftan Drive, Colorado Springs, CO 80925 · 3bd/3ba · $369,999
List Price
$369,999
Assumable Rate
3.55%
Remaining Balance
$339,434
Equity Gap
$30,564
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$30,564
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.55% (VA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.55% + gap loan
$1,618/moAssumed loan: $1,534/mo
Gap financing: $84/mo
$604less per month with the assumable
Your Savings on This Property
9221 Chieftan Drive, Colorado Springs · 3.55% VA vs 6.5% conventional
$604
per month
$7,244
per year
$217,318
over 30 years
$217,317
interest saved
How gap financing works: The equity gap ($30,564) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($12,064 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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