Loan Comparison: 3.34% vs 6.5%
1857 Clayhouse, Colorado Springs, CO 80921 · 5bd/5ba · $1,025,000
List Price
$1,025,000
Assumable Rate
3.34%
Remaining Balance
$594,427
Equity Gap
$430,572
Loan Type
VAAdjust Your Scenario
$51,250
$51,250$430,572
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,155/moAssumable @ 3.34% + gap loan
$5,533/moAssumed loan: $2,616/mo
Gap financing: $2,917/mo
$622less per month with the assumable
Your Savings on This Property
1857 Clayhouse, Colorado Springs · 3.34% VA vs 6.5% conventional
$622
per month
$7,460
per year
$223,800
over 30 years
$223,799
interest saved
How gap financing works: The equity gap ($430,572) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($51,250, 5% of purchase price) and a second mortgage for the rest ($379,322 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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