Loan Comparison: 3.47% vs 6.5%
15849 Longmeadow Lane, Colorado Springs, CO 80921 · 6bd/4ba · $689,000
List Price
$689,000
Assumable Rate
3.47%
Remaining Balance
$329,358
Equity Gap
$359,642
Loan Type
VAAdjust Your Scenario
$34,450
$34,450$359,642
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,137/moAssumable @ 3.47% + gap loan
$3,747/moAssumed loan: $1,473/mo
Gap financing: $2,274/mo
$390less per month with the assumable
Your Savings on This Property
15849 Longmeadow Lane, Colorado Springs · 3.47% VA vs 6.5% conventional
$390
per month
$4,679
per year
$140,385
over 30 years
$140,385
interest saved
How gap financing works: The equity gap ($359,642) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,450, 5% of purchase price) and a second mortgage for the rest ($325,192 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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