Loan Comparison: 3.75% vs 6.5%
11029 Falling Snow, Colorado Springs, CO 80908 · 4bd/3ba · $590,000
List Price
$590,000
Assumable Rate
3.75%
Remaining Balance
$546,989
Equity Gap
$45,163
Loan Type
VAAdjust Your Scenario
$29,500
$29,500$45,163
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 3.75% + gap loan
$2,654/moAssumed loan: $2,533/mo
Gap financing: $120/mo
$889less per month with the assumable
Your Savings on This Property
11029 Falling Snow, Colorado Springs · 3.75% VA vs 6.5% conventional
$889
per month
$10,669
per year
$320,081
over 30 years
$322,233
interest saved
How gap financing works: The equity gap ($45,163) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($15,663 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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