Loan Comparison: 3.08% vs 6.5%
7117 Boreal, Colorado Springs, CO 80915 · 2bd/2ba · $381,900
List Price
$381,900
Assumable Rate
3.08%
Remaining Balance
$283,245
Equity Gap
$98,654
Loan Type
VAAdjust Your Scenario
$19,095
$19,095$98,654
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,293/moAssumable @ 3.08% + gap loan
$1,818/moAssumed loan: $1,206/mo
Gap financing: $612/mo
$475less per month with the assumable
Your Savings on This Property
7117 Boreal, Colorado Springs · 3.08% VA vs 6.5% conventional
$475
per month
$5,700
per year
$171,002
over 30 years
$171,001
interest saved
How gap financing works: The equity gap ($98,654) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,095, 5% of purchase price) and a second mortgage for the rest ($79,559 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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