Loan Comparison: 3.56% vs 6.5%
3031 Poughkeepsie Drive, Colorado Springs, CO 80916 · 3bd/3ba · $485,000
List Price
$485,000
Assumable Rate
3.56%
Remaining Balance
$64,998
Equity Gap
$420,002
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$420,002
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.56% (VA)
Blended Rate: 6.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.56% + gap loan
$3,061/moAssumed loan: $294/mo
Gap financing: $2,767/mo
Your Savings on This Property
3031 Poughkeepsie Drive, Colorado Springs · 3.56% 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 ($420,002) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($395,752 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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