Loan Comparison: 3.1% vs 6.5%
6670 Golden Briar Lane, Colorado Springs, CO 80916 · 2bd/2ba · $545,000
List Price
$545,000
Assumable Rate
3.1%
Remaining Balance
$486,241
Equity Gap
$58,758
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$58,758
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 3.1% + gap loan
$2,297/moAssumed loan: $2,076/mo
Gap financing: $220/mo
$976less per month with the assumable
Your Savings on This Property
6670 Golden Briar Lane, Colorado Springs · 3.1% VA vs 6.5% conventional
$976
per month
$11,711
per year
$351,322
over 30 years
$351,321
interest saved
How gap financing works: The equity gap ($58,758) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($31,508 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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