Loan Comparison: 3.97% vs 6.5%
410 17th, Colorado Springs, CO 80904 · 2bd/1ba · $339,000
List Price
$339,000
Assumable Rate
3.97%
Remaining Balance
$374,155
Equity Gap
$178,202
Loan Type
VAAdjust Your Scenario
$16,950
$16,950$178,202
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.97% (VA)
Blended Rate: 5.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,036/moAssumable @ 3.97% + gap loan
$3,020/moAssumed loan: $1,780/mo
Gap financing: $1,240/mo
Your Savings on This Property
410 17th, Colorado Springs · 3.97% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($178,202) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,950, 5% of purchase price) and a second mortgage for the rest ($161,252 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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