Loan Comparison: 3.16% vs 6.5%
8329 Freestar, Colorado Springs, CO 80925 · 4bd/4ba · $445,000
List Price
$445,000
Assumable Rate
3.16%
Remaining Balance
$314,312
Equity Gap
$129,976
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$129,976
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.16% + gap loan
$2,181/moAssumed loan: $1,352/mo
Gap financing: $828/mo
$491less per month with the assumable
Your Savings on This Property
8329 Freestar, Colorado Springs · 3.16% VA vs 6.5% conventional
$491
per month
$5,896
per year
$176,875
over 30 years
$176,163
interest saved
How gap financing works: The equity gap ($129,976) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($107,726 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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