Loan Comparison: 3.51% vs 6.5%
10003 Aspen Valley, Colorado Springs, CO 80908 · 5bd/4ba · $1,350,000
List Price
$1,350,000
Assumable Rate
3.51%
Remaining Balance
$1,044,173
Equity Gap
$305,827
Loan Type
VAAdjust Your Scenario
$67,500
$67,500$305,827
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.51% (VA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,106/moAssumable @ 3.51% + gap loan
$6,527/moAssumed loan: $4,695/mo
Gap financing: $1,833/mo
$1,579less per month with the assumable
Your Savings on This Property
10003 Aspen Valley, Colorado Springs · 3.51% VA vs 6.5% conventional
$1,579
per month
$18,949
per year
$568,480
over 30 years
$568,480
interest saved
How gap financing works: The equity gap ($305,827) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($67,500, 5% of purchase price) and a second mortgage for the rest ($238,327 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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