Loan Comparison: 3.7% vs 6.5%
6079 Trappers Tale Court, Colorado Springs, CO 80923 · 4bd/4ba · $648,900
List Price
$648,900
Assumable Rate
3.7%
Remaining Balance
$313,311
Equity Gap
$335,588
Loan Type
VAAdjust Your Scenario
$32,445
$32,445$335,588
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,896/moAssumable @ 3.7% + gap loan
$3,562/moAssumed loan: $1,442/mo
Gap financing: $2,120/mo
$335less per month with the assumable
Your Savings on This Property
6079 Trappers Tale Court, Colorado Springs · 3.7% VA vs 6.5% conventional
$335
per month
$4,016
per year
$120,484
over 30 years
$120,483
interest saved
How gap financing works: The equity gap ($335,588) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,445, 5% of purchase price) and a second mortgage for the rest ($303,143 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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