Loan Comparison: 3% vs 6.5%
11 Polo, Colorado Springs, CO 80906 · 4bd/5ba · $1,849,999
List Price
$1,849,999
Assumable Rate
3%
Remaining Balance
$793,927
Equity Gap
$1,056,071
Loan Type
VAAdjust Your Scenario
$92,500
$92,500$1,056,071
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 6.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$11,109/moAssumable @ 3% + gap loan
$10,756/moAssumed loan: $3,347/mo
Gap financing: $7,409/mo
$352less per month with the assumable
Your Savings on This Property
11 Polo, Colorado Springs · 3% VA vs 6.5% conventional
$352
per month
$4,228
per year
$126,840
over 30 years
$126,839
interest saved
How gap financing works: The equity gap ($1,056,071) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($92,500, 5% of purchase price) and a second mortgage for the rest ($963,571 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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