Loan Comparison: 3.45% vs 6.5%
125 Ravenglass Way, Colorado Springs, CO 80906 · 6bd/5ba · $849,900
List Price
$849,900
Assumable Rate
3.45%
Remaining Balance
$798,801
Equity Gap
$51,099
Loan Type
VAAdjust Your Scenario
$42,495
$42,495$51,099
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,103/moAssumable @ 3.45% + gap loan
$3,625/moAssumed loan: $3,565/mo
Gap financing: $60/mo
$1,478less per month with the assumable
Your Savings on This Property
125 Ravenglass Way, Colorado Springs · 3.45% VA vs 6.5% conventional
$1,478
per month
$17,742
per year
$532,250
over 30 years
$532,250
interest saved
How gap financing works: The equity gap ($51,099) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,495, 5% of purchase price) and a second mortgage for the rest ($8,604 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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