Loan Comparison: 3.16% vs 6.5%
4304 Hunting Meadows, Colorado Springs, CO 80916 · 3bd/3ba · $255,000
List Price
$255,000
Assumable Rate
3.16%
Remaining Balance
$166,790
Equity Gap
$88,209
Loan Type
VAAdjust Your Scenario
$12,750
$12,750$88,209
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,531/moAssumable @ 3.16% + gap loan
$1,298/moAssumed loan: $718/mo
Gap financing: $580/mo
$233less per month with the assumable
Your Savings on This Property
4304 Hunting Meadows, Colorado Springs · 3.16% VA vs 6.5% conventional
$233
per month
$2,800
per year
$83,989
over 30 years
$83,988
interest saved
How gap financing works: The equity gap ($88,209) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,750, 5% of purchase price) and a second mortgage for the rest ($75,459 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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