Loan Comparison: 3.06% vs 6.5%
2276 Sage Grouse, Colorado Springs, CO 80951 · 3bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.06%
Remaining Balance
$394,174
Equity Gap
$53,217
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$53,217
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.06% + gap loan
$1,915/moAssumed loan: $1,675/mo
Gap financing: $240/mo
$727less per month with the assumable
Your Savings on This Property
2276 Sage Grouse, Colorado Springs · 3.06% VA vs 6.5% conventional
$727
per month
$8,729
per year
$261,856
over 30 years
$269,247
interest saved
How gap financing works: The equity gap ($53,217) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($31,217 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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