Loan Comparison: 3.75% vs 6.5%
5415 Gansevoort, Colorado Springs, CO 80924 · 5bd/4ba · $830,000
List Price
$830,000
Assumable Rate
3.75%
Remaining Balance
$730,051
Equity Gap
$99,948
Loan Type
VAAdjust Your Scenario
$41,500
$41,500$99,948
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 4.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,984/moAssumable @ 3.75% + gap loan
$3,830/moAssumed loan: $3,381/mo
Gap financing: $449/mo
$1,153less per month with the assumable
Your Savings on This Property
5415 Gansevoort, Colorado Springs · 3.75% VA vs 6.5% conventional
$1,153
per month
$13,842
per year
$415,246
over 30 years
$415,245
interest saved
How gap financing works: The equity gap ($99,948) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,500, 5% of purchase price) and a second mortgage for the rest ($58,448 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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