Loan Comparison: 3.08% vs 6.5%
6655 Weiser Drive, Colorado Springs, CO 80925 · 3bd/2ba · $390,000
List Price
$390,000
Assumable Rate
3.08%
Remaining Balance
$341,265
Equity Gap
$48,735
Loan Type
VAAdjust Your Scenario
$19,500
$19,500$48,735
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.08% + gap loan
$1,658/moAssumed loan: $1,454/mo
Gap financing: $204/mo
$684less per month with the assumable
Your Savings on This Property
6655 Weiser Drive, Colorado Springs · 3.08% VA vs 6.5% conventional
$684
per month
$8,206
per year
$246,184
over 30 years
$246,184
interest saved
How gap financing works: The equity gap ($48,735) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($29,235 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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