Loan Comparison: 3.6% vs 6.5%
2140 Crystal River Drive, Colorado Springs, CO 80915 · 4bd/4ba · $368,500
List Price
$368,500
Assumable Rate
3.6%
Remaining Balance
$269,789
Equity Gap
$98,711
Loan Type
VAAdjust Your Scenario
$18,425
$18,425$98,711
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,213/moAssumable @ 3.6% + gap loan
$1,788/moAssumed loan: $1,227/mo
Gap financing: $561/mo
$425less per month with the assumable
Your Savings on This Property
2140 Crystal River Drive, Colorado Springs · 3.6% VA vs 6.5% conventional
$425
per month
$5,097
per year
$152,913
over 30 years
$152,913
interest saved
How gap financing works: The equity gap ($98,711) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,425, 5% of purchase price) and a second mortgage for the rest ($80,286 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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