Loan Comparison: 3.73% vs 6.5%
6565 athletic Avenue, Colorado Springs, CO 80925 · 3bd/3ba · $379,000
List Price
$379,000
Assumable Rate
3.73%
Remaining Balance
$194,168
Equity Gap
$184,832
Loan Type
VAAdjust Your Scenario
$18,950
$18,950$184,832
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.73% (VA)
Blended Rate: 5.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,276/moAssumable @ 3.73% + gap loan
$2,057/moAssumed loan: $897/mo
Gap financing: $1,160/mo
$219less per month with the assumable
Your Savings on This Property
6565 athletic Avenue, Colorado Springs · 3.73% VA vs 6.5% conventional
$219
per month
$2,626
per year
$78,793
over 30 years
$78,793
interest saved
How gap financing works: The equity gap ($184,832) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,950, 5% of purchase price) and a second mortgage for the rest ($165,882 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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