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
$1,048,262
Equity Gap
$303,779
Loan Type
VAAdjust Your Scenario
$67,500
$67,500$303,779
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.51% (VA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,106/moAssumable @ 3.51% + gap loan
$6,530/moAssumed loan: $4,713/mo
Gap financing: $1,817/mo
$1,576less per month with the assumable
Your Savings on This Property
10003 Aspen Valley, Colorado Springs · 3.51% VA vs 6.5% conventional
$1,576
per month
$18,918
per year
$567,530
over 30 years
$569,571
interest saved
How gap financing works: The equity gap ($303,779) 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 ($236,279 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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