Loan Comparison: 3.6% vs 6.5%
139 Palisade, Manitou Springs, CO 80829 · 3bd/2ba · $650,000
List Price
$650,000
Assumable Rate
3.6%
Remaining Balance
$209,049
Equity Gap
$440,951
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$440,951
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 6.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 3.6% + gap loan
$4,091/moAssumed loan: $950/mo
Gap financing: $3,141/mo
Your Savings on This Property
139 Palisade, Manitou Springs · 3.6% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($440,951) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($408,451 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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