Loan Comparison: 3.76% vs 6.5%
5521 Calamity Jane, Colorado Springs, CO 80923 · 4bd/4ba · $629,900
List Price
$629,900
Assumable Rate
3.76%
Remaining Balance
$411,916
Equity Gap
$218,753
Loan Type
VAAdjust Your Scenario
$31,495
$31,495$218,753
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,782/moAssumable @ 3.76% + gap loan
$3,350/moAssumed loan: $1,910/mo
Gap financing: $1,440/mo
$432less per month with the assumable
Your Savings on This Property
5521 Calamity Jane, Colorado Springs · 3.76% VA vs 6.5% conventional
$432
per month
$5,190
per year
$155,696
over 30 years
$156,465
interest saved
How gap financing works: The equity gap ($218,753) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,495, 5% of purchase price) and a second mortgage for the rest ($187,258 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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