Loan Comparison: 3.07% vs 6.5%
6592 Tillamook, Colorado Springs, CO 80925 · 4bd/3ba · $475,000
List Price
$475,000
Assumable Rate
3.07%
Remaining Balance
$433,012
Equity Gap
$41,987
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$41,987
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.07% + gap loan
$1,982/moAssumed loan: $1,842/mo
Gap financing: $140/mo
$870less per month with the assumable
Your Savings on This Property
6592 Tillamook, Colorado Springs · 3.07% VA vs 6.5% conventional
$870
per month
$10,440
per year
$313,199
over 30 years
$313,198
interest saved
How gap financing works: The equity gap ($41,987) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($18,237 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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