Loan Comparison: 3.76% vs 6.5%
6545 Bonifas, Colorado Springs, CO 80919 · 3bd/2ba · $575,000
List Price
$575,000
Assumable Rate
3.76%
Remaining Balance
$222,684
Equity Gap
$352,315
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$352,315
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 6.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.76% + gap loan
$3,520/moAssumed loan: $1,033/mo
Gap financing: $2,488/mo
Your Savings on This Property
6545 Bonifas, Colorado Springs · 3.76% 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 ($352,315) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($323,565 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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