Loan Comparison: 3.3% vs 6.5%
1142 Dancing Horse Drive, Colorado Springs, CO 80919 · 7bd/6ba · $509,000
List Price
$509,000
Assumable Rate
3.3%
Remaining Balance
$334,937
Equity Gap
$174,062
Loan Type
VAAdjust Your Scenario
$25,450
$25,450$174,062
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.3% (VA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,056/moAssumable @ 3.3% + gap loan
$2,506/moAssumed loan: $1,467/mo
Gap financing: $1,039/mo
$550less per month with the assumable
Your Savings on This Property
1142 Dancing Horse Drive, Colorado Springs · 3.3% VA vs 6.5% conventional
$550
per month
$6,604
per year
$198,135
over 30 years
$198,134
interest saved
How gap financing works: The equity gap ($174,062) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,450, 5% of purchase price) and a second mortgage for the rest ($148,612 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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