Loan Comparison: 3.1% vs 6.5%
9843 Paluxy, Colorado Springs, CO 80925 · 3bd/3ba · $379,000
List Price
$379,000
Assumable Rate
3.1%
Remaining Balance
$353,151
Equity Gap
$25,848
Loan Type
VAAdjust Your Scenario
$18,950
$18,950$25,848
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,276/moAssumable @ 3.1% + gap loan
$1,561/moAssumed loan: $1,508/mo
Gap financing: $53/mo
$715less per month with the assumable
Your Savings on This Property
9843 Paluxy, Colorado Springs · 3.1% VA vs 6.5% conventional
$715
per month
$8,577
per year
$257,295
over 30 years
$257,294
interest saved
How gap financing works: The equity gap ($25,848) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,950, 5% of purchase price) and a second mortgage for the rest ($6,898 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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