Loan Comparison: 3.44% vs 6.5%
5018 Blackcloud, Colorado Springs, CO 80922 · 3bd/3ba · $370,000
List Price
$370,000
Assumable Rate
3.44%
Remaining Balance
$189,191
Equity Gap
$181,337
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$181,337
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (VA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.44% + gap loan
$2,095/moAssumed loan: $843/mo
Gap financing: $1,252/mo
$126less per month with the assumable
Your Savings on This Property
5018 Blackcloud, Colorado Springs · 3.44% VA vs 6.5% conventional
$126
per month
$1,517
per year
$45,509
over 30 years
$46,037
interest saved
How gap financing works: The equity gap ($181,337) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($162,837 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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