Loan Comparison: 3.06% vs 6.5%
4362 Alder Springs, Colorado Springs, CO 80922 · 3bd/3ba · $359,000
List Price
$359,000
Assumable Rate
3.06%
Remaining Balance
$196,660
Equity Gap
$162,769
Loan Type
VAAdjust Your Scenario
$17,950
$17,950$162,769
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 5.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,156/moAssumable @ 3.06% + gap loan
$1,949/moAssumed loan: $836/mo
Gap financing: $1,114/mo
$207less per month with the assumable
Your Savings on This Property
4362 Alder Springs, Colorado Springs · 3.06% VA vs 6.5% conventional
$207
per month
$2,480
per year
$74,387
over 30 years
$74,816
interest saved
How gap financing works: The equity gap ($162,769) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,950, 5% of purchase price) and a second mortgage for the rest ($144,819 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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