Loan Comparison: 3.76% vs 6.5%
8480 Delaware, Colorado Springs, CO 80926 · 3bd/3ba · $620,000
List Price
$620,000
Assumable Rate
3.76%
Remaining Balance
$203,278
Equity Gap
$416,339
Loan Type
VAAdjust Your Scenario
$31,000
$31,000$416,339
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 6.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 3.76% + gap loan
$3,905/moAssumed loan: $943/mo
Gap financing: $2,963/mo
Your Savings on This Property
8480 Delaware, Colorado Springs · 3.76% 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 ($416,339) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($385,339 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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