Loan Comparison: 3.75% vs 6.5%
6493 Barrel Race, Colorado Springs, CO 80923 · 5bd/4ba · $638,000
List Price
$638,000
Assumable Rate
3.75%
Remaining Balance
$599,335
Equity Gap
$38,665
Loan Type
VAAdjust Your Scenario
$31,900
$31,900$38,665
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 3.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,831/moAssumable @ 3.75% + gap loan
$2,828/moAssumed loan: $2,776/mo
Gap financing: $52/mo
$1,003less per month with the assumable
Your Savings on This Property
6493 Barrel Race, Colorado Springs · 3.75% VA vs 6.5% conventional
$1,003
per month
$12,040
per year
$361,200
over 30 years
$361,200
interest saved
How gap financing works: The equity gap ($38,665) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,900, 5% of purchase price) and a second mortgage for the rest ($6,765 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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