Loan Comparison: 3.08% vs 6.5%
3595 Darkwood, Colorado Springs, CO 80910 · 3bd/1ba · $320,000
List Price
$320,000
Assumable Rate
3.08%
Remaining Balance
$273,855
Equity Gap
$45,543
Loan Type
VAAdjust Your Scenario
$16,000
$16,000$45,543
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 3.08% + gap loan
$1,394/moAssumed loan: $1,166/mo
Gap financing: $227/mo
$528less per month with the assumable
Your Savings on This Property
3595 Darkwood, Colorado Springs · 3.08% VA vs 6.5% conventional
$528
per month
$6,335
per year
$190,042
over 30 years
$189,440
interest saved
How gap financing works: The equity gap ($45,543) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($29,543 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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