Loan Comparison: 3.92% vs 6.5%
2080 Poteae Circle, Colorado Springs, CO 80915 · 3bd/3ba · $359,900
List Price
$359,900
Assumable Rate
3.92%
Remaining Balance
$264,596
Equity Gap
$95,303
Loan Type
VAAdjust Your Scenario
$17,995
$17,995$95,303
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.92% (VA)
Blended Rate: 4.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 3.92% + gap loan
$1,792/moAssumed loan: $1,251/mo
Gap financing: $541/mo
$369less per month with the assumable
Your Savings on This Property
2080 Poteae Circle, Colorado Springs · 3.92% VA vs 6.5% conventional
$369
per month
$4,434
per year
$133,011
over 30 years
$133,010
interest saved
How gap financing works: The equity gap ($95,303) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($77,308 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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