Loan Comparison: 3.07% vs 6.5%
1620 Boulder Street, Colorado Springs, CO 80904 · 3bd/1ba · $398,000
List Price
$398,000
Assumable Rate
3.07%
Remaining Balance
$221,384
Equity Gap
$176,616
Loan Type
VAAdjust Your Scenario
$19,900
$19,900$176,616
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,390/moAssumable @ 3.07% + gap loan
$2,038/moAssumed loan: $942/mo
Gap financing: $1,096/mo
$352less per month with the assumable
Your Savings on This Property
1620 Boulder Street, Colorado Springs · 3.07% VA vs 6.5% conventional
$352
per month
$4,228
per year
$126,837
over 30 years
$126,837
interest saved
How gap financing works: The equity gap ($176,616) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,900, 5% of purchase price) and a second mortgage for the rest ($156,716 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.
🏠
Back to This Listing
View photos, details, and request a showing for 1620 Boulder Street.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.