Loan Comparison: 3.23% vs 6.5%
10301 Green Lake, Colorado Springs, CO 80924 · 5bd/4ba · $734,900
List Price
$734,900
Assumable Rate
3.23%
Remaining Balance
$413,155
Equity Gap
$321,745
Loan Type
VAAdjust Your Scenario
$36,745
$36,745$321,745
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,413/moAssumable @ 3.23% + gap loan
$3,985/moAssumed loan: $1,794/mo
Gap financing: $2,191/mo
$428less per month with the assumable
Your Savings on This Property
10301 Green Lake, Colorado Springs · 3.23% VA vs 6.5% conventional
$428
per month
$5,134
per year
$154,032
over 30 years
$154,032
interest saved
How gap financing works: The equity gap ($321,745) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,745, 5% of purchase price) and a second mortgage for the rest ($285,000 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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