Loan Comparison: 3.11% vs 6.5%
2736 Ben Court, Colorado Springs, CO 80909 · 3bd/3ba · $307,000
List Price
$307,000
Assumable Rate
3.11%
Remaining Balance
$276,987
Equity Gap
$30,013
Loan Type
VAAdjust Your Scenario
$15,350
$15,350$30,013
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.11% (VA)
Blended Rate: 3.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,843/moAssumable @ 3.11% + gap loan
$1,287/moAssumed loan: $1,184/mo
Gap financing: $103/mo
$557less per month with the assumable
Your Savings on This Property
2736 Ben Court, Colorado Springs · 3.11% VA vs 6.5% conventional
$557
per month
$6,679
per year
$200,382
over 30 years
$200,382
interest saved
How gap financing works: The equity gap ($30,013) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,350, 5% of purchase price) and a second mortgage for the rest ($14,663 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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