Loan Comparison: 3.24% vs 6.5%
1019 De La Vista Lane, Colorado Springs, CO 80911 · 5bd/5ba · $329,750
List Price
$329,750
Assumable Rate
3.24%
Remaining Balance
$167,664
Equity Gap
$162,086
Loan Type
VAAdjust Your Scenario
$16,488
$16,488$162,086
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.24% (VA)
Blended Rate: 5.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,980/moAssumable @ 3.24% + gap loan
$1,747/moAssumed loan: $729/mo
Gap financing: $1,018/mo
$233less per month with the assumable
Your Savings on This Property
1019 De La Vista Lane, Colorado Springs · 3.24% VA vs 6.5% conventional
$233
per month
$2,799
per year
$83,961
over 30 years
$83,961
interest saved
How gap financing works: The equity gap ($162,086) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,488, 5% of purchase price) and a second mortgage for the rest ($145,598 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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