Loan Comparison: 3.02% vs 6.5%
4481 Kingfisher Point, Colorado Springs, CO 80922 · 3bd/2ba · $235,000
List Price
$235,000
Assumable Rate
3.02%
Remaining Balance
$210,568
Equity Gap
$24,432
Loan Type
VAAdjust Your Scenario
$11,750
$11,750$24,432
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 3.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 3.02% + gap loan
$979/moAssumed loan: $890/mo
Gap financing: $89/mo
$432less per month with the assumable
Your Savings on This Property
4481 Kingfisher Point, Colorado Springs · 3.02% VA vs 6.5% conventional
$432
per month
$5,189
per year
$155,657
over 30 years
$155,657
interest saved
How gap financing works: The equity gap ($24,432) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,750, 5% of purchase price) and a second mortgage for the rest ($12,682 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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