Loan Comparison: 3.31% vs 6.5%
2583 Pony Club, Colorado Springs, CO 80922 · 4bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.31%
Remaining Balance
$373,715
Equity Gap
$176,285
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$176,285
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.31% + gap loan
$2,783/moAssumed loan: $1,639/mo
Gap financing: $1,144/mo
$520less per month with the assumable
Your Savings on This Property
2583 Pony Club, Colorado Springs · 3.31% VA vs 6.5% conventional
$520
per month
$6,237
per year
$187,115
over 30 years
$187,115
interest saved
How gap financing works: The equity gap ($176,285) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($148,785 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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