Loan Comparison: 3.23% vs 6.5%
5041 Weaver, Colorado Springs, CO 80922 · 3bd/3ba · $475,000
List Price
$475,000
Assumable Rate
3.23%
Remaining Balance
$375,062
Equity Gap
$157,550
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$157,550
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 4.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.23% + gap loan
$2,657/moAssumed loan: $1,628/mo
Gap financing: $1,029/mo
$195less per month with the assumable
Your Savings on This Property
5041 Weaver, Colorado Springs · 3.23% VA vs 6.5% conventional
$195
per month
$2,343
per year
$70,280
over 30 years
$127,892
interest saved
How gap financing works: The equity gap ($157,550) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($133,800 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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