Loan Comparison: 3.45% vs 6.5%
6950 Shunka, Colorado Springs, CO 80925 · 4bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.45%
Remaining Balance
$447,961
Equity Gap
$51,961
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$51,961
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.45% + gap loan
$2,220/moAssumed loan: $1,999/mo
Gap financing: $221/mo
$572less per month with the assumable
Your Savings on This Property
6950 Shunka, Colorado Springs · 3.45% VA vs 6.5% conventional
$572
per month
$6,868
per year
$206,040
over 30 years
$240,962
interest saved
How gap financing works: The equity gap ($51,961) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($28,711 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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