Loan Comparison: 3.37% vs 6.5%
1519 Sausalito Drive, Colorado Springs, CO 80907 · 3bd/3ba · $389,000
List Price
$389,000
Assumable Rate
3.37%
Remaining Balance
$51,415
Equity Gap
$337,585
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$337,585
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.37% (VA)
Blended Rate: 6.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 3.37% + gap loan
$2,452/moAssumed loan: $227/mo
Gap financing: $2,224/mo
Your Savings on This Property
1519 Sausalito Drive, Colorado Springs · 3.37% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($337,585) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($318,135 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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