Loan Comparison: 3.47% vs 6.5%
5578 Stetson Hills, Colorado Springs, CO 80917 · 2bd/3ba · $329,900
List Price
$329,900
Assumable Rate
3.47%
Remaining Balance
$243,594
Equity Gap
$86,305
Loan Type
VAAdjust Your Scenario
$16,495
$16,495$86,305
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,981/moAssumable @ 3.47% + gap loan
$1,627/moAssumed loan: $1,090/mo
Gap financing: $537/mo
$354less per month with the assumable
Your Savings on This Property
5578 Stetson Hills, Colorado Springs · 3.47% VA vs 6.5% conventional
$354
per month
$4,253
per year
$127,578
over 30 years
$127,577
interest saved
How gap financing works: The equity gap ($86,305) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,495, 5% of purchase price) and a second mortgage for the rest ($69,810 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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