Loan Comparison: 3.34% vs 6.5%
1857 Clayhouse Drive, Colorado Springs, CO 80921 · 5bd/3ba · $990,000
List Price
$990,000
Assumable Rate
3.34%
Remaining Balance
$593,092
Equity Gap
$396,908
Loan Type
VAAdjust Your Scenario
$49,500
$49,500$396,908
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (VA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,945/moAssumable @ 3.34% + gap loan
$5,040/moAssumed loan: $2,611/mo
Gap financing: $2,429/mo
$905less per month with the assumable
Your Savings on This Property
1857 Clayhouse Drive, Colorado Springs · 3.34% VA vs 6.5% conventional
$905
per month
$10,859
per year
$325,768
over 30 years
$325,768
interest saved
How gap financing works: The equity gap ($396,908) 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 ($347,408 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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