Loan Comparison: 3.08% vs 6.5%
7858 Chasewood, Colorado Springs, CO 80908 · 6bd/3ba · $569,950
List Price
$569,950
Assumable Rate
3.08%
Remaining Balance
$271,646
Equity Gap
$298,304
Loan Type
VAAdjust Your Scenario
$28,498
$28,498$298,304
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,422/moAssumable @ 3.08% + gap loan
$3,232/moAssumed loan: $1,157/mo
Gap financing: $2,075/mo
$191less per month with the assumable
Your Savings on This Property
7858 Chasewood, Colorado Springs · 3.08% VA vs 6.5% conventional
$191
per month
$2,289
per year
$68,670
over 30 years
$68,669
interest saved
How gap financing works: The equity gap ($298,304) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,498, 5% of purchase price) and a second mortgage for the rest ($269,806 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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