Loan Comparison: 3.88% vs 6.5%
2818 Bijou, Colorado Springs, CO 80904 · 4bd/3ba · $549,999
List Price
$549,999
Assumable Rate
3.88%
Remaining Balance
$264,498
Equity Gap
$285,501
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$285,501
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.88% (VA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.88% + gap loan
$3,228/moAssumed loan: $1,245/mo
Gap financing: $1,984/mo
$74less per month with the assumable
Your Savings on This Property
2818 Bijou, Colorado Springs · 3.88% VA vs 6.5% conventional
$74
per month
$891
per year
$26,719
over 30 years
$26,719
interest saved
How gap financing works: The equity gap ($285,501) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($258,001 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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