Loan Comparison: 3.61% vs 6.5%
7251 Issaquah, Colorado Springs, CO 80923 · 5bd/3ba · $645,000
List Price
$645,000
Assumable Rate
3.61%
Remaining Balance
$294,510
Equity Gap
$349,830
Loan Type
VAAdjust Your Scenario
$32,250
$32,250$349,830
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (VA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,873/moAssumable @ 3.61% + gap loan
$3,783/moAssumed loan: $1,341/mo
Gap financing: $2,442/mo
$90less per month with the assumable
Your Savings on This Property
7251 Issaquah, Colorado Springs · 3.61% VA vs 6.5% conventional
$90
per month
$1,085
per year
$32,562
over 30 years
$31,902
interest saved
How gap financing works: The equity gap ($349,830) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,250, 5% of purchase price) and a second mortgage for the rest ($317,580 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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