Loan Comparison: 3.06% vs 6.5%
5927 Mumford, Colorado Springs, CO 80925 · 4bd/3ba · $464,900
List Price
$464,900
Assumable Rate
3.06%
Remaining Balance
$294,879
Equity Gap
$170,021
Loan Type
VAAdjust Your Scenario
$23,245
$23,245$170,021
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.06% + gap loan
$2,381/moAssumed loan: $1,253/mo
Gap financing: $1,129/mo
$410less per month with the assumable
Your Savings on This Property
5927 Mumford, Colorado Springs · 3.06% VA vs 6.5% conventional
$410
per month
$4,922
per year
$147,670
over 30 years
$147,670
interest saved
How gap financing works: The equity gap ($170,021) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,245, 5% of purchase price) and a second mortgage for the rest ($146,776 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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