Loan Comparison: 3.26% vs 6.5%
5205 Mountain Villa, Colorado Springs, CO 80917 · 3bd/3ba · $349,000
List Price
$349,000
Assumable Rate
3.26%
Remaining Balance
$188,934
Equity Gap
$170,140
Loan Type
VAAdjust Your Scenario
$17,450
$17,450$170,140
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.26% (VA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,096/moAssumable @ 3.26% + gap loan
$1,997/moAssumed loan: $823/mo
Gap financing: $1,174/mo
$98less per month with the assumable
Your Savings on This Property
5205 Mountain Villa, Colorado Springs · 3.26% VA vs 6.5% conventional
$98
per month
$1,179
per year
$35,380
over 30 years
$45,454
interest saved
How gap financing works: The equity gap ($170,140) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,450, 5% of purchase price) and a second mortgage for the rest ($152,690 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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