Loan Comparison: 3.31% vs 6.5%
9178 Kathi Creek, Colorado Springs, CO 80924 · 4bd/3ba · $640,000
List Price
$640,000
Assumable Rate
3.31%
Remaining Balance
$441,417
Equity Gap
$199,569
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$199,569
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 4.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 3.31% + gap loan
$3,224/moAssumed loan: $1,936/mo
Gap financing: $1,288/mo
$619less per month with the assumable
Your Savings on This Property
9178 Kathi Creek, Colorado Springs · 3.31% VA vs 6.5% conventional
$619
per month
$7,426
per year
$222,794
over 30 years
$223,780
interest saved
How gap financing works: The equity gap ($199,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($167,569 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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