Loan Comparison: 3.69% vs 6.5%
2310 La Salle Street, Colorado Springs, CO 80909 · 3bd/1ba · $355,000
List Price
$355,000
Assumable Rate
3.69%
Remaining Balance
$317,320
Equity Gap
$37,680
Loan Type
VAAdjust Your Scenario
$17,750
$17,750$37,680
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (VA)
Blended Rate: 3.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 3.69% + gap loan
$1,598/moAssumed loan: $1,459/mo
Gap financing: $139/mo
$534less per month with the assumable
Your Savings on This Property
2310 La Salle Street, Colorado Springs · 3.69% VA vs 6.5% conventional
$534
per month
$6,402
per year
$192,067
over 30 years
$192,067
interest saved
How gap financing works: The equity gap ($37,680) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($19,930 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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