Loan Comparison: 3.27% vs 6.5%
8415 Lauralwood, Colorado Springs, CO 80919 · 6bd/4ba · $975,000
List Price
$975,000
Assumable Rate
3.27%
Remaining Balance
$526,541
Equity Gap
$448,459
Loan Type
VAAdjust Your Scenario
$48,750
$48,750$448,459
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.27% (VA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,855/moAssumable @ 3.27% + gap loan
$5,371/moAssumed loan: $2,297/mo
Gap financing: $3,073/mo
$484less per month with the assumable
Your Savings on This Property
8415 Lauralwood, Colorado Springs · 3.27% VA vs 6.5% conventional
$484
per month
$5,805
per year
$174,165
over 30 years
$174,165
interest saved
How gap financing works: The equity gap ($448,459) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,750, 5% of purchase price) and a second mortgage for the rest ($399,709 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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