Loan Comparison: 6.27% vs 6.5%
3380 Ashwood Circle, Colorado Springs, CO 80906 · 3bd/1ba · $445,000
List Price
$445,000
Assumable Rate
6.27%
Remaining Balance
$413,605
Equity Gap
$31,394
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$31,394
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.27% (VA)
Blended Rate: 6.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 6.27% + gap loan
$2,616/moAssumed loan: $2,552/mo
Gap financing: $64/mo
$56less per month with the assumable
Your Savings on This Property
3380 Ashwood Circle, Colorado Springs · 6.27% VA vs 6.5% conventional
$56
per month
$673
per year
$20,200
over 30 years
$20,199
interest saved
How gap financing works: The equity gap ($31,394) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($9,144 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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