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
$1,042,120
Equity Gap
$307,880
Loan Type
VAAdjust Your Scenario
$67,500
$67,500$307,880
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.51% (VA)
Blended Rate: 4.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,106/moAssumable @ 3.51% + gap loan
$6,534/moAssumed loan: $4,685/mo
Gap financing: $1,848/mo
$1,573less per month with the assumable
Your Savings on This Property
10003 Aspen Valley, Colorado Springs · 3.51% VA vs 6.5% conventional
$1,573
per month
$18,871
per year
$566,120
over 30 years
$566,120
interest saved
How gap financing works: The equity gap ($307,880) 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 ($240,380 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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