Loan Comparison: 3.07% vs 6.5%
1333 Holmes, Colorado Springs, CO 80909 · 4bd/3ba · $429,950
List Price
$429,950
Assumable Rate
3.07%
Remaining Balance
$400,170
Equity Gap
$29,780
Loan Type
VAAdjust Your Scenario
$21,498
$21,498$29,780
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.07% + gap loan
$1,766/moAssumed loan: $1,702/mo
Gap financing: $64/mo
$816less per month with the assumable
Your Savings on This Property
1333 Holmes, Colorado Springs · 3.07% VA vs 6.5% conventional
$816
per month
$9,789
per year
$293,666
over 30 years
$293,665
interest saved
How gap financing works: The equity gap ($29,780) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,498, 5% of purchase price) and a second mortgage for the rest ($8,282 at 8.5%). 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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