Loan Comparison: 3.81% vs 6.5%
7425 Foxglove, Colorado Springs, CO 80911 · 5bd/3ba · $419,900
List Price
$419,900
Assumable Rate
3.81%
Remaining Balance
$228,641
Equity Gap
$191,259
Loan Type
VAAdjust Your Scenario
$20,995
$20,995$191,259
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.81% (VA)
Blended Rate: 5.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 3.81% + gap loan
$2,376/moAssumed loan: $1,067/mo
Gap financing: $1,309/mo
$145less per month with the assumable
Your Savings on This Property
7425 Foxglove, Colorado Springs · 3.81% VA vs 6.5% conventional
$145
per month
$1,746
per year
$52,379
over 30 years
$52,379
interest saved
How gap financing works: The equity gap ($191,259) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($170,264 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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