Loan Comparison: 3.02% vs 6.5%
7443 Allens Park, Colorado Springs, CO 80922 · 4bd/3ba · $515,000
List Price
$515,000
Assumable Rate
3.02%
Remaining Balance
$347,443
Equity Gap
$166,760
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$166,760
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.02% + gap loan
$2,553/moAssumed loan: $1,469/mo
Gap financing: $1,084/mo
$540less per month with the assumable
Your Savings on This Property
7443 Allens Park, Colorado Springs · 3.02% VA vs 6.5% conventional
$540
per month
$6,475
per year
$194,243
over 30 years
$193,446
interest saved
How gap financing works: The equity gap ($166,760) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($141,010 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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