Loan Comparison: 3.22% vs 6.5%
5944 Huerfano Drive, Colorado Springs, CO 80923 · 3bd/2ba · $519,999
List Price
$519,999
Assumable Rate
3.22%
Remaining Balance
$388,774
Equity Gap
$131,224
Loan Type
VAAdjust Your Scenario
$26,000
$26,000$131,224
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.22% (VA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.22% + gap loan
$2,421/moAssumed loan: $1,686/mo
Gap financing: $736/mo
$701less per month with the assumable
Your Savings on This Property
5944 Huerfano Drive, Colorado Springs · 3.22% VA vs 6.5% conventional
$701
per month
$8,413
per year
$252,394
over 30 years
$252,393
interest saved
How gap financing works: The equity gap ($131,224) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($105,224 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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