Loan Comparison: 3.84% vs 6.5%
625 Allegheny, Colorado Springs, CO 80919 · 4bd/3ba · $549,000
List Price
$549,000
Assumable Rate
3.84%
Remaining Balance
$331,384
Equity Gap
$218,349
Loan Type
VAAdjust Your Scenario
$27,450
$27,450$218,349
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.84% (VA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 3.84% + gap loan
$3,020/moAssumed loan: $1,552/mo
Gap financing: $1,468/mo
$277less per month with the assumable
Your Savings on This Property
625 Allegheny, Colorado Springs · 3.84% VA vs 6.5% conventional
$277
per month
$3,324
per year
$99,734
over 30 years
$100,467
interest saved
How gap financing works: The equity gap ($218,349) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($190,899 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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