Loan Comparison: 3.07% vs 6.5%
10202 Abrams, Colorado Springs, CO 80925 · 5bd/4ba · $650,000
List Price
$650,000
Assumable Rate
3.07%
Remaining Balance
$392,902
Equity Gap
$257,098
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$257,098
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 3.07% + gap loan
$3,398/moAssumed loan: $1,671/mo
Gap financing: $1,727/mo
$505less per month with the assumable
Your Savings on This Property
10202 Abrams, Colorado Springs · 3.07% VA vs 6.5% conventional
$505
per month
$6,056
per year
$181,690
over 30 years
$181,690
interest saved
How gap financing works: The equity gap ($257,098) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($224,598 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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