Loan Comparison: 2.96% vs 6.5%
3870 Constitution Avenue, Colorado Springs, CO 80909 · 3bd/3ba · $220,000
List Price
$220,000
Assumable Rate
2.96%
Remaining Balance
$137,259
Equity Gap
$82,740
Loan Type
VAAdjust Your Scenario
$11,000
$11,000$82,740
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,321/moAssumable @ 2.96% + gap loan
$1,077/moAssumed loan: $576/mo
Gap financing: $502/mo
$244less per month with the assumable
Your Savings on This Property
3870 Constitution Avenue, Colorado Springs · 2.96% VA vs 6.5% conventional
$244
per month
$2,924
per year
$87,722
over 30 years
$87,721
interest saved
How gap financing works: The equity gap ($82,740) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,000, 5% of purchase price) and a second mortgage for the rest ($71,740 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.
🏠
Back to This Listing
View photos, details, and request a showing for 3870 Constitution Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.