Loan Comparison: 2.98% vs 6.5%
3433 Hunterwood Drive, Colorado Springs, CO 80916 · 4bd/2ba · $340,000
List Price
$340,000
Assumable Rate
2.98%
Remaining Balance
$322,979
Equity Gap
$17,020
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$17,020
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 2.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 2.98% + gap loan
$1,358/moAssumed loan: $1,358/mo
Gap financing: $0/mo
$683less per month with the assumable
Your Savings on This Property
3433 Hunterwood Drive, Colorado Springs · 2.98% VA vs 6.5% conventional
$683
per month
$8,199
per year
$245,962
over 30 years
$245,961
interest saved
How gap financing works: The equity gap ($17,020) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($20 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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