Loan Comparison: 3.89% vs 6.5%
1928 Wooten, Colorado Springs, CO 80915 · 3bd/3ba · $394,900
List Price
$394,900
Assumable Rate
3.89%
Remaining Balance
$125,357
Equity Gap
$269,543
Loan Type
VAAdjust Your Scenario
$19,745
$19,745$269,543
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.89% (VA)
Blended Rate: 6.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,371/moAssumable @ 3.89% + gap loan
$2,511/moAssumed loan: $591/mo
Gap financing: $1,921/mo
Your Savings on This Property
1928 Wooten, Colorado Springs · 3.89% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($269,543) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,745, 5% of purchase price) and a second mortgage for the rest ($249,798 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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