Loan Comparison: 3.48% vs 6.5%
7215 Rim Bluff, Colorado Springs, CO 80927 · 4bd/4ba · $669,900
List Price
$669,900
Assumable Rate
3.48%
Remaining Balance
$454,509
Equity Gap
$213,375
Loan Type
VAAdjust Your Scenario
$33,495
$33,495$213,375
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.48% (VA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,023/moAssumable @ 3.48% + gap loan
$3,419/moAssumed loan: $2,036/mo
Gap financing: $1,383/mo
$604less per month with the assumable
Your Savings on This Property
7215 Rim Bluff, Colorado Springs · 3.48% VA vs 6.5% conventional
$604
per month
$7,242
per year
$217,265
over 30 years
$215,249
interest saved
How gap financing works: The equity gap ($213,375) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,495, 5% of purchase price) and a second mortgage for the rest ($179,880 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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