Loan Comparison: 3.76% vs 6.5%
4068 Ascendant Drive, Colorado Springs, CO 80922 · 3bd/3ba · $575,000
List Price
$575,000
Assumable Rate
3.76%
Remaining Balance
$399,184
Equity Gap
$175,816
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$175,816
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.76% + gap loan
$2,879/moAssumed loan: $1,851/mo
Gap financing: $1,028/mo
$573less per month with the assumable
Your Savings on This Property
4068 Ascendant Drive, Colorado Springs · 3.76% VA vs 6.5% conventional
$573
per month
$6,881
per year
$206,430
over 30 years
$206,430
interest saved
How gap financing works: The equity gap ($175,816) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($147,066 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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