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
$293,590
Equity Gap
$156,309
Loan Type
VAAdjust Your Scenario
$22,495
$22,495$156,309
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 3.06% + gap loan
$2,276/moAssumed loan: $1,247/mo
Gap financing: $1,029/mo
$425less per month with the assumable
Your Savings on This Property
5927 Mumford, Colorado Springs · 3.06% VA vs 6.5% conventional
$425
per month
$5,103
per year
$153,097
over 30 years
$153,096
interest saved
How gap financing works: The equity gap ($156,309) 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 ($133,814 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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