Loan Comparison: 3.375% vs 6.5%
2374 Cinnabar, Colorado Springs, CO 80921 · 5bd/5ba · $569,999
List Price
$569,999
Assumable Rate
3.375%
Remaining Balance
$327,925
Equity Gap
$238,618
Loan Type
VAAdjust Your Scenario
$28,500
$28,500$238,618
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.375% (VA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 3.375% + gap loan
$3,065/moAssumed loan: $1,450/mo
Gap financing: $1,616/mo
$357less per month with the assumable
Your Savings on This Property
2374 Cinnabar, Colorado Springs · 3.375% VA vs 6.5% conventional
$357
per month
$4,287
per year
$128,618
over 30 years
$125,162
interest saved
How gap financing works: The equity gap ($238,618) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($210,118 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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