Loan Comparison: 3.45% vs 6.5%
9802 Silver Stirrup Drive, Colorado Springs, CO 80911 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.45%
Remaining Balance
$209,898
Equity Gap
$205,102
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$205,102
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.45% + gap loan
$2,226/moAssumed loan: $937/mo
Gap financing: $1,289/mo
$266less per month with the assumable
Your Savings on This Property
9802 Silver Stirrup Drive, Colorado Springs · 3.45% VA vs 6.5% conventional
$266
per month
$3,195
per year
$95,841
over 30 years
$95,841
interest saved
How gap financing works: The equity gap ($205,102) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($184,352 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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