Loan Comparison: 3.76% vs 6.5%
3041 Namib, Colorado Springs, CO 80939 · 6bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.76%
Remaining Balance
$502,628
Equity Gap
$47,372
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$47,372
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 3.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.76% + gap loan
$2,483/moAssumed loan: $2,331/mo
Gap financing: $153/mo
$819less per month with the assumable
Your Savings on This Property
3041 Namib, Colorado Springs · 3.76% VA vs 6.5% conventional
$819
per month
$9,830
per year
$294,896
over 30 years
$294,896
interest saved
How gap financing works: The equity gap ($47,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($19,872 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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