Loan Comparison: 3.06% vs 6.5%
1095 Peterson, Colorado Springs, CO 80915 · 4bd/2ba · $345,500
List Price
$345,500
Assumable Rate
3.06%
Remaining Balance
$260,265
Equity Gap
$86,366
Loan Type
VAAdjust Your Scenario
$17,275
$17,275$86,366
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,075/moAssumable @ 3.06% + gap loan
$1,637/moAssumed loan: $1,106/mo
Gap financing: $531/mo
$438less per month with the assumable
Your Savings on This Property
1095 Peterson, Colorado Springs · 3.06% VA vs 6.5% conventional
$438
per month
$5,252
per year
$157,546
over 30 years
$158,677
interest saved
How gap financing works: The equity gap ($86,366) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,275, 5% of purchase price) and a second mortgage for the rest ($69,091 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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