Loan Comparison: 3.08% vs 6.5%
4019 Charleston, Colorado Springs, CO 80916 · 2bd/2ba · $245,400
List Price
$245,400
Assumable Rate
3.08%
Remaining Balance
$217,653
Equity Gap
$27,746
Loan Type
VAAdjust Your Scenario
$12,270
$12,270$27,746
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,474/moAssumable @ 3.08% + gap loan
$1,046/moAssumed loan: $927/mo
Gap financing: $119/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
$5,130
per year
$153,897
over 30 years
$153,896
interest saved
How gap financing works: The equity gap ($27,746) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,270, 5% of purchase price) and a second mortgage for the rest ($15,476 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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