Loan Comparison: 3.23% vs 6.5%
6550 Tranters Creek, Colorado Springs, CO 80925 · 5bd/3ba · $485,000
List Price
$485,000
Assumable Rate
3.23%
Remaining Balance
$292,731
Equity Gap
$192,268
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$192,268
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.23% + gap loan
$2,563/moAssumed loan: $1,271/mo
Gap financing: $1,292/mo
$350less per month with the assumable
Your Savings on This Property
6550 Tranters Creek, Colorado Springs · 3.23% VA vs 6.5% conventional
$350
per month
$4,195
per year
$125,844
over 30 years
$125,843
interest saved
How gap financing works: The equity gap ($192,268) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($168,018 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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