Loan Comparison: 3.06% vs 6.5%
4362 Alder Springs, Colorado Springs, CO 80922 · 3bd/3ba · $355,000
List Price
$355,000
Assumable Rate
3.06%
Remaining Balance
$195,369
Equity Gap
$158,769
Loan Type
VAAdjust Your Scenario
$17,750
$17,750$158,769
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 3.06% + gap loan
$1,914/moAssumed loan: $830/mo
Gap financing: $1,084/mo
$217less per month with the assumable
Your Savings on This Property
4362 Alder Springs, Colorado Springs · 3.06% VA vs 6.5% conventional
$217
per month
$2,608
per year
$78,234
over 30 years
$77,372
interest saved
How gap financing works: The equity gap ($158,769) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($141,019 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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