Loan Comparison: 3.04% vs 6.5%
12470 Arrow Creek, Colorado Springs, CO 80921 · 4bd/5ba · $1,079,900
List Price
$1,079,900
Assumable Rate
3.04%
Remaining Balance
$546,829
Equity Gap
$533,071
Loan Type
VAAdjust Your Scenario
$53,995
$53,995$533,071
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,484/moAssumable @ 3.04% + gap loan
$6,001/moAssumed loan: $2,317/mo
Gap financing: $3,684/mo
$483less per month with the assumable
Your Savings on This Property
12470 Arrow Creek, Colorado Springs · 3.04% VA vs 6.5% conventional
$483
per month
$5,802
per year
$174,050
over 30 years
$174,050
interest saved
How gap financing works: The equity gap ($533,071) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,995, 5% of purchase price) and a second mortgage for the rest ($479,076 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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