Loan Comparison: 3.76% vs 6.5%
1027 De La Vista, Colorado Springs, CO 80911 · 5bd/2ba · $399,000
List Price
$399,000
Assumable Rate
3.76%
Remaining Balance
$325,355
Equity Gap
$90,419
Loan Type
VAAdjust Your Scenario
$19,950
$19,950$90,419
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,396/moAssumable @ 3.76% + gap loan
$2,050/moAssumed loan: $1,509/mo
Gap financing: $542/mo
$345less per month with the assumable
Your Savings on This Property
1027 De La Vista, Colorado Springs · 3.76% VA vs 6.5% conventional
$345
per month
$4,145
per year
$124,341
over 30 years
$141,115
interest saved
How gap financing works: The equity gap ($90,419) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,950, 5% of purchase price) and a second mortgage for the rest ($70,469 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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