Loan Comparison: 3.18% vs 6.5%
17512 Pond View Place, Colorado Springs, CO 80908 · 4bd/4ba · $1,595,000
List Price
$1,595,000
Assumable Rate
3.18%
Remaining Balance
$696,752
Equity Gap
$898,247
Loan Type
VAAdjust Your Scenario
$79,750
$79,750$898,247
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$9,577/moAssumable @ 3.18% + gap loan
$8,729/moAssumed loan: $3,006/mo
Gap financing: $5,723/mo
$849less per month with the assumable
Your Savings on This Property
17512 Pond View Place, Colorado Springs · 3.18% VA vs 6.5% conventional
$849
per month
$10,185
per year
$305,552
over 30 years
$305,551
interest saved
How gap financing works: The equity gap ($898,247) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($79,750, 5% of purchase price) and a second mortgage for the rest ($818,497 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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