Loan Comparison: 3.87% vs 6.5%
14525 Gleneagle, Colorado Springs, CO 80921 · 5bd/4ba · $625,000
List Price
$625,000
Assumable Rate
3.87%
Remaining Balance
$238,061
Equity Gap
$384,976
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$384,976
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (VA)
Blended Rate: 6.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 3.87% + gap loan
$3,839/moAssumed loan: $1,119/mo
Gap financing: $2,720/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 ($384,976) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($353,726 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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