Loan Comparison: 3.08% vs 6.5%
10660 Deer Meadow, Colorado Springs, CO 80925 · 3bd/2ba · $415,000
List Price
$415,000
Assumable Rate
3.08%
Remaining Balance
$323,545
Equity Gap
$91,455
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$91,455
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.08% + gap loan
$1,922/moAssumed loan: $1,378/mo
Gap financing: $544/mo
$570less per month with the assumable
Your Savings on This Property
10660 Deer Meadow, Colorado Springs · 3.08% VA vs 6.5% conventional
$570
per month
$6,842
per year
$205,268
over 30 years
$205,268
interest saved
How gap financing works: The equity gap ($91,455) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($70,705 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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