Loan Comparison: 3.1% vs 6.5%
8544 Vanderwood, Colorado Springs, CO 80908 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
3.1%
Remaining Balance
$447,818
Equity Gap
$52,181
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$52,181
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.1% + gap loan
$2,121/moAssumed loan: $1,912/mo
Gap financing: $209/mo
$881less per month with the assumable
Your Savings on This Property
8544 Vanderwood, Colorado Springs · 3.1% VA vs 6.5% conventional
$881
per month
$10,573
per year
$317,185
over 30 years
$317,184
interest saved
How gap financing works: The equity gap ($52,181) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($27,181 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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