Loan Comparison: 3.8% vs 6.5%
58 Watson Boulevard, Colorado Springs, CO 80911 · 4bd/4ba · $365,000
List Price
$365,000
Assumable Rate
3.8%
Remaining Balance
$244,680
Equity Gap
$120,320
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$120,320
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.8% + gap loan
$1,854/moAssumed loan: $1,140/mo
Gap financing: $714/mo
$338less per month with the assumable
Your Savings on This Property
58 Watson Boulevard, Colorado Springs · 3.8% VA vs 6.5% conventional
$338
per month
$4,055
per year
$121,645
over 30 years
$121,645
interest saved
How gap financing works: The equity gap ($120,320) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($102,070 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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