Loan Comparison: 2.96% vs 6.5%
4364 Bronco Gulch, Colorado Springs, CO 80925 · 3bd/3ba · $435,000
List Price
$435,000
Assumable Rate
2.96%
Remaining Balance
$368,415
Equity Gap
$67,393
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$67,393
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.96% + gap loan
$1,896/moAssumed loan: $1,545/mo
Gap financing: $351/mo
$716less per month with the assumable
Your Savings on This Property
4364 Bronco Gulch, Colorado Springs · 2.96% VA vs 6.5% conventional
$716
per month
$8,589
per year
$257,670
over 30 years
$258,478
interest saved
How gap financing works: The equity gap ($67,393) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($45,643 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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