Loan Comparison: 3.62% vs 6.5%
13957 Sierra Knolls, Colorado Springs, CO 80921 · 4bd/4ba · $989,900
List Price
$989,900
Assumable Rate
3.62%
Remaining Balance
$339,684
Equity Gap
$648,699
Loan Type
VAAdjust Your Scenario
$49,495
$49,495$648,699
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 6.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,944/moAssumable @ 3.62% + gap loan
$6,156/moAssumed loan: $1,548/mo
Gap financing: $4,607/mo
Your Savings on This Property
13957 Sierra Knolls, Colorado Springs · 3.62% 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 ($648,699) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,495, 5% of purchase price) and a second mortgage for the rest ($599,204 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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