Loan Comparison: 3.7% vs 6.5%
10355 Desert Bloom, Colorado Springs, CO 80925 · 4bd/4ba · $460,000
List Price
$460,000
Assumable Rate
3.7%
Remaining Balance
$251,903
Equity Gap
$208,097
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$208,097
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.7% + gap loan
$2,583/moAssumed loan: $1,159/mo
Gap financing: $1,423/mo
$179less per month with the assumable
Your Savings on This Property
10355 Desert Bloom, Colorado Springs · 3.7% VA vs 6.5% conventional
$179
per month
$2,153
per year
$64,597
over 30 years
$64,597
interest saved
How gap financing works: The equity gap ($208,097) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($185,097 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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