Loan Comparison: 3.72% vs 6.5%
5304 Chloe Lane, Colorado Springs, CO 80915 · 3bd/3ba · $549,900
List Price
$549,900
Assumable Rate
3.72%
Remaining Balance
$186,044
Equity Gap
$363,856
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$363,856
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (VA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 3.72% + gap loan
$3,210/moAssumed loan: $858/mo
Gap financing: $2,352/mo
$92less per month with the assumable
Your Savings on This Property
5304 Chloe Lane, Colorado Springs · 3.72% VA vs 6.5% conventional
$92
per month
$1,100
per year
$32,989
over 30 years
$32,989
interest saved
How gap financing works: The equity gap ($363,856) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($336,361 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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