Loan Comparison: 3.07% vs 6.5%
54 Minden, Colorado Springs, CO 80906 · 4bd/3ba · $420,000
List Price
$420,000
Assumable Rate
3.07%
Remaining Balance
$382,874
Equity Gap
$36,320
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$36,320
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.07% + gap loan
$1,747/moAssumed loan: $1,629/mo
Gap financing: $118/mo
$775less per month with the assumable
Your Savings on This Property
54 Minden, Colorado Springs · 3.07% VA vs 6.5% conventional
$775
per month
$9,305
per year
$279,162
over 30 years
$278,356
interest saved
How gap financing works: The equity gap ($36,320) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($15,320 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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