Loan Comparison: 3.09% vs 6.5%
7255 Bigtooth Maple Drive, Colorado Springs, CO 80925 · 3bd/2ba · $550,000
List Price
$550,000
Assumable Rate
3.09%
Remaining Balance
$463,654
Equity Gap
$86,346
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$86,346
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.09% (VA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.09% + gap loan
$2,389/moAssumed loan: $1,977/mo
Gap financing: $411/mo
$914less per month with the assumable
Your Savings on This Property
7255 Bigtooth Maple Drive, Colorado Springs · 3.09% VA vs 6.5% conventional
$914
per month
$10,965
per year
$328,944
over 30 years
$328,944
interest saved
How gap financing works: The equity gap ($86,346) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($58,846 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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