Loan Comparison: 3.05% vs 6.5%
125 Larch Drive, Colorado Springs, CO 80911 · 4bd/2ba · $320,000
List Price
$320,000
Assumable Rate
3.05%
Remaining Balance
$299,397
Equity Gap
$20,603
Loan Type
VAAdjust Your Scenario
$16,000
$16,000$20,603
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 3.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 3.05% + gap loan
$1,303/moAssumed loan: $1,270/mo
Gap financing: $32/mo
$619less per month with the assumable
Your Savings on This Property
125 Larch Drive, Colorado Springs · 3.05% VA vs 6.5% conventional
$619
per month
$7,427
per year
$222,820
over 30 years
$222,820
interest saved
How gap financing works: The equity gap ($20,603) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($4,603 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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