Loan Comparison: 3.91% vs 6.5%
2393 Lexington Village Lane, Colorado Springs, CO 80916 · 5bd/4ba · $199,900
List Price
$199,900
Assumable Rate
3.91%
Remaining Balance
$42,094
Equity Gap
$157,805
Loan Type
VAAdjust Your Scenario
$9,995
$9,995$157,805
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (VA)
Blended Rate: 6.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,200/moAssumable @ 3.91% + gap loan
$1,232/moAssumed loan: $199/mo
Gap financing: $1,034/mo
Your Savings on This Property
2393 Lexington Village Lane, Colorado Springs · 3.91% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($157,805) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,995, 5% of purchase price) and a second mortgage for the rest ($147,810 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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