Loan Comparison: 3.51% vs 6.5%
4252 Horse Gulch, Colorado Springs, CO 80924 · 4bd/4ba · $1,280,000
List Price
$1,280,000
Assumable Rate
3.51%
Remaining Balance
$960,202
Equity Gap
$319,797
Loan Type
VAAdjust Your Scenario
$64,000
$64,000$319,797
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.51% (VA)
Blended Rate: 4.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,686/moAssumable @ 3.51% + gap loan
$6,284/moAssumed loan: $4,317/mo
Gap financing: $1,967/mo
$1,402less per month with the assumable
Your Savings on This Property
4252 Horse Gulch, Colorado Springs · 3.51% VA vs 6.5% conventional
$1,402
per month
$16,824
per year
$504,717
over 30 years
$504,716
interest saved
How gap financing works: The equity gap ($319,797) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($64,000, 5% of purchase price) and a second mortgage for the rest ($255,797 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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