Loan Comparison: 3.61% vs 6.5%
4550 Settlement, Colorado Springs, CO 80925 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.61%
Remaining Balance
$241,082
Equity Gap
$158,917
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$158,917
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (VA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.61% + gap loan
$2,166/moAssumed loan: $1,097/mo
Gap financing: $1,068/mo
$236less per month with the assumable
Your Savings on This Property
4550 Settlement, Colorado Springs · 3.61% VA vs 6.5% conventional
$236
per month
$2,835
per year
$85,062
over 30 years
$85,061
interest saved
How gap financing works: The equity gap ($158,917) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($138,917 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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