Loan Comparison: 3.6% vs 6.5%
9515 Aspen Grove, Colorado Springs, CO 80925 · 4bd/4ba · $640,000
List Price
$640,000
Assumable Rate
3.6%
Remaining Balance
$224,580
Equity Gap
$415,420
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$415,420
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 6.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 3.6% + gap loan
$3,969/moAssumed loan: $1,021/mo
Gap financing: $2,948/mo
Your Savings on This Property
9515 Aspen Grove, Colorado Springs · 3.6% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($415,420) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($383,420 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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