Loan Comparison: 3.47% vs 6.5%
5578 Stetson Hills, Colorado Springs, CO 80917 · 2bd/3ba · $335,000
List Price
$335,000
Assumable Rate
3.47%
Remaining Balance
$244,676
Equity Gap
$90,324
Loan Type
VAAdjust Your Scenario
$16,750
$16,750$90,324
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 3.47% + gap loan
$1,660/moAssumed loan: $1,095/mo
Gap financing: $566/mo
$351less per month with the assumable
Your Savings on This Property
5578 Stetson Hills, Colorado Springs · 3.47% VA vs 6.5% conventional
$351
per month
$4,215
per year
$126,441
over 30 years
$126,441
interest saved
How gap financing works: The equity gap ($90,324) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($73,574 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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