Loan Comparison: 3.87% vs 6.5%
14525 Gleneagle, Colorado Springs, CO 80921 · 5bd/4ba · $610,000
List Price
$610,000
Assumable Rate
3.87%
Remaining Balance
$237,402
Equity Gap
$372,597
Loan Type
VAAdjust Your Scenario
$30,500
$30,500$372,597
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (VA)
Blended Rate: 6.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 3.87% + gap loan
$3,746/moAssumed loan: $1,116/mo
Gap financing: $2,630/mo
Your Savings on This Property
14525 Gleneagle, Colorado Springs · 3.87% 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 ($372,597) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($342,097 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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