Loan Comparison: 3.56% vs 6.5%
4790 Justeagen Drive, Colorado Springs, CO 80911 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.56%
Remaining Balance
$188,088
Equity Gap
$211,911
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$211,911
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.56% (VA)
Blended Rate: 5.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.56% + gap loan
$2,193/moAssumed loan: $851/mo
Gap financing: $1,342/mo
$209less per month with the assumable
Your Savings on This Property
4790 Justeagen Drive, Colorado Springs · 3.56% VA vs 6.5% conventional
$209
per month
$2,509
per year
$75,268
over 30 years
$75,267
interest saved
How gap financing works: The equity gap ($211,911) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($191,911 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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