Loan Comparison: 3.48% vs 6.5%
6860 Conifer Ridge Drive, Colorado Springs, CO 80923 · 0bd/0ba · $470,000
List Price
$470,000
Assumable Rate
3.48%
Remaining Balance
$250,786
Equity Gap
$219,214
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$219,214
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.48% (VA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.48% + gap loan
$2,492/moAssumed loan: $1,123/mo
Gap financing: $1,368/mo
$330less per month with the assumable
Your Savings on This Property
6860 Conifer Ridge Drive, Colorado Springs · 3.48% VA vs 6.5% conventional
$330
per month
$3,965
per year
$118,937
over 30 years
$118,937
interest saved
How gap financing works: The equity gap ($219,214) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($195,714 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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