Loan Comparison: 3.06% vs 6.5%
4945 Mushroom Rock, Colorado Springs, CO 80924 · 5bd/3ba · $674,900
List Price
$674,900
Assumable Rate
3.06%
Remaining Balance
$218,189
Equity Gap
$456,711
Loan Type
VAAdjust Your Scenario
$33,745
$33,745$456,711
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 6.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 3.06% + gap loan
$4,179/moAssumed loan: $927/mo
Gap financing: $3,252/mo
Your Savings on This Property
4945 Mushroom Rock, Colorado Springs · 3.06% 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 ($456,711) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,745, 5% of purchase price) and a second mortgage for the rest ($422,966 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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