Loan Comparison: 3.72% vs 6.5%
7316 Rim Bluff, Colorado Springs, CO 80927 · 5bd/0ba · $605,000
List Price
$605,000
Assumable Rate
3.72%
Remaining Balance
$502,535
Equity Gap
$225,368
Loan Type
VAAdjust Your Scenario
$30,250
$30,250$225,368
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (VA)
Blended Rate: 5.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,633/moAssumable @ 3.72% + gap loan
$3,819/moAssumed loan: $2,319/mo
Gap financing: $1,500/mo
Your Savings on This Property
7316 Rim Bluff, Colorado Springs · 3.72% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$55,853
interest saved
How gap financing works: The equity gap ($225,368) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,250, 5% of purchase price) and a second mortgage for the rest ($195,118 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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