Loan Comparison: 3.34% vs 6.5%
1857 Clayhouse, Colorado Springs, CO 80921 · 5bd/5ba · $1,040,000
List Price
$1,040,000
Assumable Rate
3.34%
Remaining Balance
$595,759
Equity Gap
$444,241
Loan Type
VAAdjust Your Scenario
$52,000
$52,000$444,241
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (VA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,245/moAssumable @ 3.34% + gap loan
$5,638/moAssumed loan: $2,622/mo
Gap financing: $3,016/mo
$607less per month with the assumable
Your Savings on This Property
1857 Clayhouse, Colorado Springs · 3.34% VA vs 6.5% conventional
$607
per month
$7,278
per year
$218,354
over 30 years
$218,354
interest saved
How gap financing works: The equity gap ($444,241) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,000, 5% of purchase price) and a second mortgage for the rest ($392,241 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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