Loan Comparison: 3.8% vs 6.5%
6942 Green Stalk, Colorado Springs, CO 80927 · 4bd/3ba · $589,900
List Price
$589,900
Assumable Rate
3.8%
Remaining Balance
$0
Equity Gap
$589,900
Loan Type
VAAdjust Your Scenario
$29,495
$29,495$589,900
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 8.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,542/moAssumable @ 3.8% + gap loan
$4,309/moAssumed loan: $0/mo
Gap financing: $4,309/mo
Your Savings on This Property
6942 Green Stalk, Colorado Springs · 3.8% 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 ($589,900) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,495, 5% of purchase price) and a second mortgage for the rest ($560,405 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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