Loan Comparison: 3.02% vs 6.5%
9112 Argentine Pass, Colorado Springs, CO 80924 · 5bd/4ba · $690,000
List Price
$690,000
Assumable Rate
3.02%
Remaining Balance
$402,323
Equity Gap
$285,841
Loan Type
VAAdjust Your Scenario
$34,500
$34,500$285,841
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,143/moAssumable @ 3.02% + gap loan
$3,633/moAssumed loan: $1,701/mo
Gap financing: $1,933/mo
$510less per month with the assumable
Your Savings on This Property
9112 Argentine Pass, Colorado Springs · 3.02% VA vs 6.5% conventional
$510
per month
$6,121
per year
$183,621
over 30 years
$181,785
interest saved
How gap financing works: The equity gap ($285,841) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,500, 5% of purchase price) and a second mortgage for the rest ($251,341 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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