Loan Comparison: 3.07% vs 6.5%
3230 Pony Tracks, Colorado Springs, CO 80922 · 4bd/4ba · $475,000
List Price
$475,000
Assumable Rate
3.07%
Remaining Balance
$401,006
Equity Gap
$73,994
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$73,994
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.07% + gap loan
$2,092/moAssumed loan: $1,706/mo
Gap financing: $386/mo
$760less per month with the assumable
Your Savings on This Property
3230 Pony Tracks, Colorado Springs · 3.07% VA vs 6.5% conventional
$760
per month
$9,120
per year
$273,614
over 30 years
$273,614
interest saved
How gap financing works: The equity gap ($73,994) 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 ($50,244 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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