Loan Comparison: 3.61% vs 6.5%
8287 Loganberry, Colorado Springs, CO 80927 · 4bd/4ba · $555,000
List Price
$555,000
Assumable Rate
3.61%
Remaining Balance
$255,843
Equity Gap
$298,443
Loan Type
VAAdjust Your Scenario
$27,750
$27,750$298,443
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (VA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 3.61% + gap loan
$3,246/moAssumed loan: $1,165/mo
Gap financing: $2,081/mo
$87less per month with the assumable
Your Savings on This Property
8287 Loganberry, Colorado Springs · 3.61% VA vs 6.5% conventional
$87
per month
$1,039
per year
$31,164
over 30 years
$30,450
interest saved
How gap financing works: The equity gap ($298,443) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($270,693 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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