Loan Comparison: 3.48% vs 6.5%
7215 Rim Bluff, Colorado Springs, CO 80927 · 4bd/4ba · $684,000
List Price
$684,000
Assumable Rate
3.48%
Remaining Balance
$455,518
Equity Gap
$227,475
Loan Type
VAAdjust Your Scenario
$34,200
$34,200$227,475
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.48% (VA)
Blended Rate: 4.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,107/moAssumable @ 3.48% + gap loan
$3,527/moAssumed loan: $2,040/mo
Gap financing: $1,486/mo
$581less per month with the assumable
Your Savings on This Property
7215 Rim Bluff, Colorado Springs · 3.48% VA vs 6.5% conventional
$581
per month
$6,968
per year
$209,039
over 30 years
$208,032
interest saved
How gap financing works: The equity gap ($227,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,200, 5% of purchase price) and a second mortgage for the rest ($193,275 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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