Loan Comparison: 2.9% vs 6.5%
3820 Soft Breeze Way, Colorado Springs, CO 80918 · 3bd/2ba · $445,000
List Price
$445,000
Assumable Rate
2.9%
Remaining Balance
$366,420
Equity Gap
$78,579
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$78,579
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 2.9% + gap loan
$1,919/moAssumed loan: $1,525/mo
Gap financing: $394/mo
$753less per month with the assumable
Your Savings on This Property
3820 Soft Breeze Way, Colorado Springs · 2.9% VA vs 6.5% conventional
$753
per month
$9,037
per year
$271,101
over 30 years
$271,100
interest saved
How gap financing works: The equity gap ($78,579) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($56,329 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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