Loan Comparison: 3.13% vs 6.5%
1857 Clayhouse Drive, Colorado Springs, CO 80921 · 4bd/6ba · $990,000
List Price
$990,000
Assumable Rate
3.13%
Remaining Balance
$590,466
Equity Gap
$399,533
Loan Type
VAAdjust Your Scenario
$49,500
$49,500$399,533
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 4.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,945/moAssumable @ 3.13% + gap loan
$4,978/moAssumed loan: $2,531/mo
Gap financing: $2,447/mo
$966less per month with the assumable
Your Savings on This Property
1857 Clayhouse Drive, Colorado Springs · 3.13% VA vs 6.5% conventional
$966
per month
$11,593
per year
$347,796
over 30 years
$347,795
interest saved
How gap financing works: The equity gap ($399,533) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,500, 5% of purchase price) and a second mortgage for the rest ($350,033 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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