Loan Comparison: 3.07% vs 6.5%
6560 President, Colorado Springs, CO 80911 · 4bd/2ba · $375,000
List Price
$375,000
Assumable Rate
3.07%
Remaining Balance
$206,787
Equity Gap
$168,213
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$168,213
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.07% + gap loan
$2,029/moAssumed loan: $880/mo
Gap financing: $1,149/mo
$223less per month with the assumable
Your Savings on This Property
6560 President, Colorado Springs · 3.07% VA vs 6.5% conventional
$223
per month
$2,674
per year
$80,227
over 30 years
$80,227
interest saved
How gap financing works: The equity gap ($168,213) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($149,463 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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