Loan Comparison: 3.75% vs 6.5%
11872 Hawk Stone, Colorado Springs, CO 80921 · 5bd/5ba · $1,200,000
List Price
$1,200,000
Assumable Rate
3.75%
Remaining Balance
$887,699
Equity Gap
$313,960
Loan Type
VAAdjust Your Scenario
$60,000
$60,000$313,960
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 4.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,206/moAssumable @ 3.75% + gap loan
$6,064/moAssumed loan: $4,111/mo
Gap financing: $1,953/mo
$1,142less per month with the assumable
Your Savings on This Property
11872 Hawk Stone, Colorado Springs · 3.75% VA vs 6.5% conventional
$1,142
per month
$13,701
per year
$411,037
over 30 years
$412,696
interest saved
How gap financing works: The equity gap ($313,960) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($60,000, 5% of purchase price) and a second mortgage for the rest ($253,960 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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