Loan Comparison: 3.69% vs 6.5%
2313 Spring Blossom Drive, Colorado Springs, CO 80910 · 3bd/2ba · $430,000
List Price
$430,000
Assumable Rate
3.69%
Remaining Balance
$259,235
Equity Gap
$170,764
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$170,764
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.69% + gap loan
$2,235/moAssumed loan: $1,192/mo
Gap financing: $1,044/mo
$347less per month with the assumable
Your Savings on This Property
2313 Spring Blossom Drive, Colorado Springs · 3.69% VA vs 6.5% conventional
$347
per month
$4,159
per year
$124,766
over 30 years
$124,765
interest saved
How gap financing works: The equity gap ($170,764) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($149,264 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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