Loan Comparison: 3.45% vs 6.5%
830 Sword Dancer Drive, Colorado Springs, CO 80921 · 6bd/5ba · $1,095,000
List Price
$1,095,000
Assumable Rate
3.45%
Remaining Balance
$729,481
Equity Gap
$365,519
Loan Type
VAAdjust Your Scenario
$54,750
$54,750$365,519
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,575/moAssumable @ 3.45% + gap loan
$5,428/moAssumed loan: $3,255/mo
Gap financing: $2,173/mo
$1,147less per month with the assumable
Your Savings on This Property
830 Sword Dancer Drive, Colorado Springs · 3.45% VA vs 6.5% conventional
$1,147
per month
$13,761
per year
$412,839
over 30 years
$412,839
interest saved
How gap financing works: The equity gap ($365,519) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($54,750, 5% of purchase price) and a second mortgage for the rest ($310,769 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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