Loan Comparison: 3.99% vs 6.5%
5604 Saint Patrick, Colorado Springs, CO 80923 · 3bd/3ba · $375,000
List Price
$375,000
Assumable Rate
3.99%
Remaining Balance
$141,553
Equity Gap
$233,447
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$233,447
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.99% (VA)
Blended Rate: 6.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.99% + gap loan
$2,326/moAssumed loan: $675/mo
Gap financing: $1,651/mo
Your Savings on This Property
5604 Saint Patrick, Colorado Springs · 3.99% 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 ($233,447) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($214,697 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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