Loan Comparison: 3.08% vs 6.5%
4019 Charleston, Colorado Springs, CO 80916 · 2bd/2ba · $247,900
List Price
$247,900
Assumable Rate
3.08%
Remaining Balance
$219,581
Equity Gap
$28,799
Loan Type
VAAdjust Your Scenario
$12,395
$12,395$28,799
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,489/moAssumable @ 3.08% + gap loan
$1,061/moAssumed loan: $935/mo
Gap financing: $126/mo
$427less per month with the assumable
Your Savings on This Property
4019 Charleston, Colorado Springs · 3.08% VA vs 6.5% conventional
$427
per month
$5,126
per year
$153,776
over 30 years
$154,256
interest saved
How gap financing works: The equity gap ($28,799) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,395, 5% of purchase price) and a second mortgage for the rest ($16,404 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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