Loan Comparison: 3.06% vs 6.5%
8809 Christy Court, Colorado Springs, CO 80951 · 5bd/3ba · $492,000
List Price
$492,000
Assumable Rate
3.06%
Remaining Balance
$409,411
Equity Gap
$82,589
Loan Type
VAAdjust Your Scenario
$24,600
$24,600$82,589
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,954/moAssumable @ 3.06% + gap loan
$2,145/moAssumed loan: $1,739/mo
Gap financing: $405/mo
$809less per month with the assumable
Your Savings on This Property
8809 Christy Court, Colorado Springs · 3.06% VA vs 6.5% conventional
$809
per month
$9,713
per year
$291,402
over 30 years
$291,402
interest saved
How gap financing works: The equity gap ($82,589) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,600, 5% of purchase price) and a second mortgage for the rest ($57,989 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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