Loan Comparison: 3.07% vs 6.5%
5180 Victory, Colorado Springs, CO 80911 · 3bd/2ba · $409,000
List Price
$409,000
Assumable Rate
3.07%
Remaining Balance
$364,468
Equity Gap
$45,297
Loan Type
VAAdjust Your Scenario
$20,450
$20,450$45,297
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,456/moAssumable @ 3.07% + gap loan
$1,741/moAssumed loan: $1,550/mo
Gap financing: $191/mo
$714less per month with the assumable
Your Savings on This Property
5180 Victory, Colorado Springs · 3.07% VA vs 6.5% conventional
$714
per month
$8,573
per year
$257,199
over 30 years
$257,964
interest saved
How gap financing works: The equity gap ($45,297) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,450, 5% of purchase price) and a second mortgage for the rest ($24,847 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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