Loan Comparison: 3.03% vs 6.5%
14174 Albatross Drive, Colorado Springs, CO 80921 · 4bd/2ba · $505,000
List Price
$505,000
Assumable Rate
3.03%
Remaining Balance
$331,982
Equity Gap
$173,018
Loan Type
VAAdjust Your Scenario
$25,250
$25,250$173,018
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.03% (VA)
Blended Rate: 4.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 3.03% + gap loan
$2,438/moAssumed loan: $1,405/mo
Gap financing: $1,033/mo
$594less per month with the assumable
Your Savings on This Property
14174 Albatross Drive, Colorado Springs · 3.03% VA vs 6.5% conventional
$594
per month
$7,129
per year
$213,878
over 30 years
$213,878
interest saved
How gap financing works: The equity gap ($173,018) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($147,768 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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