Loan Comparison: 3.47% vs 6.5%
6262 Meadowbank, Colorado Springs, CO 80925 · 3bd/2ba · $375,000
List Price
$375,000
Assumable Rate
3.47%
Remaining Balance
$275,481
Equity Gap
$99,518
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$99,518
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.47% + gap loan
$1,853/moAssumed loan: $1,232/mo
Gap financing: $621/mo
$398less per month with the assumable
Your Savings on This Property
6262 Meadowbank, Colorado Springs · 3.47% VA vs 6.5% conventional
$398
per month
$4,779
per year
$143,382
over 30 years
$143,381
interest saved
How gap financing works: The equity gap ($99,518) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($80,768 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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