Loan Comparison: 3.88% vs 6.5%
2818 Bijou, Colorado Springs, CO 80904 · 4bd/3ba · $525,000
List Price
$525,000
Assumable Rate
3.88%
Remaining Balance
$263,847
Equity Gap
$261,152
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$261,152
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.88% (VA)
Blended Rate: 6.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.88% + gap loan
$3,048/moAssumed loan: $1,241/mo
Gap financing: $1,806/mo
$105less per month with the assumable
Your Savings on This Property
2818 Bijou, Colorado Springs · 3.88% VA vs 6.5% conventional
$105
per month
$1,257
per year
$37,723
over 30 years
$37,722
interest saved
How gap financing works: The equity gap ($261,152) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($234,902 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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