Loan Comparison: 3.05% vs 6.5%
10988 Tarbell Drive, Colorado Springs, CO 80925 · 4bd/3ba · $595,900
List Price
$595,900
Assumable Rate
3.05%
Remaining Balance
$520,523
Equity Gap
$75,376
Loan Type
VAAdjust Your Scenario
$29,795
$29,795$75,376
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 3.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,578/moAssumable @ 3.05% + gap loan
$2,527/moAssumed loan: $2,209/mo
Gap financing: $319/mo
$1,051less per month with the assumable
Your Savings on This Property
10988 Tarbell Drive, Colorado Springs · 3.05% VA vs 6.5% conventional
$1,051
per month
$12,610
per year
$378,307
over 30 years
$378,306
interest saved
How gap financing works: The equity gap ($75,376) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,795, 5% of purchase price) and a second mortgage for the rest ($45,581 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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