Loan Comparison: 3.28% vs 6.5%
3456 Heather Glen Drive, Colorado Springs, CO 80922 · 3bd/3ba · $539,500
List Price
$539,500
Assumable Rate
3.28%
Remaining Balance
$257,821
Equity Gap
$281,678
Loan Type
VAAdjust Your Scenario
$26,975
$26,975$281,678
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.28% (VA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,240/moAssumable @ 3.28% + gap loan
$2,907/moAssumed loan: $1,126/mo
Gap financing: $1,781/mo
$332less per month with the assumable
Your Savings on This Property
3456 Heather Glen Drive, Colorado Springs · 3.28% VA vs 6.5% conventional
$332
per month
$3,987
per year
$119,622
over 30 years
$119,621
interest saved
How gap financing works: The equity gap ($281,678) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,975, 5% of purchase price) and a second mortgage for the rest ($254,703 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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