Loan Comparison: 3.07% vs 6.5%
6712 Lucky Star Lane, Colorado Springs, CO 80923 · 3bd/3ba · $479,900
List Price
$479,900
Assumable Rate
3.07%
Remaining Balance
$364,500
Equity Gap
$115,399
Loan Type
VAAdjust Your Scenario
$23,995
$23,995$115,399
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 3.07% + gap loan
$2,190/moAssumed loan: $1,551/mo
Gap financing: $639/mo
$692less per month with the assumable
Your Savings on This Property
6712 Lucky Star Lane, Colorado Springs · 3.07% VA vs 6.5% conventional
$692
per month
$8,304
per year
$249,112
over 30 years
$249,111
interest saved
How gap financing works: The equity gap ($115,399) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,995, 5% of purchase price) and a second mortgage for the rest ($91,404 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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