Loan Comparison: 3.06% vs 6.5%
5927 Mumford, Colorado Springs, CO 80925 · 4bd/3ba · $449,900
List Price
$449,900
Assumable Rate
3.06%
Remaining Balance
$294,235
Equity Gap
$155,664
Loan Type
VAAdjust Your Scenario
$22,495
$22,495$155,664
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 3.06% + gap loan
$2,274/moAssumed loan: $1,250/mo
Gap financing: $1,024/mo
$427less per month with the assumable
Your Savings on This Property
5927 Mumford, Colorado Springs · 3.06% VA vs 6.5% conventional
$427
per month
$5,130
per year
$153,896
over 30 years
$153,895
interest saved
How gap financing works: The equity gap ($155,664) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($133,169 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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