Loan Comparison: 3.57% vs 6.5%
1768 Reilly, Colorado Springs, CO 80951 · 3bd/3ba · $319,000
List Price
$319,000
Assumable Rate
3.57%
Remaining Balance
$112,994
Equity Gap
$206,005
Loan Type
VAAdjust Your Scenario
$15,950
$15,950$206,005
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (VA)
Blended Rate: 6.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,915/moAssumable @ 3.57% + gap loan
$1,973/moAssumed loan: $512/mo
Gap financing: $1,461/mo
Your Savings on This Property
1768 Reilly, Colorado Springs · 3.57% 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 ($206,005) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,950, 5% of purchase price) and a second mortgage for the rest ($190,055 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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