Loan Comparison: 3.84% vs 6.5%
6625 Quarter Circle Road, Colorado Springs, CO 80915 · 3bd/1ba · $450,000
List Price
$450,000
Assumable Rate
3.84%
Remaining Balance
$186,686
Equity Gap
$263,314
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$263,314
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.84% (VA)
Blended Rate: 5.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.84% + gap loan
$2,558/moAssumed loan: $874/mo
Gap financing: $1,684/mo
$144less per month with the assumable
Your Savings on This Property
6625 Quarter Circle Road, Colorado Springs · 3.84% VA vs 6.5% conventional
$144
per month
$1,730
per year
$51,894
over 30 years
$51,894
interest saved
How gap financing works: The equity gap ($263,314) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($240,814 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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