Loan Comparison: 3.27% vs 6.5%
8415 Lauralwood, Colorado Springs, CO 80919 · 6bd/4ba · $995,000
List Price
$995,000
Assumable Rate
3.27%
Remaining Balance
$593,735
Equity Gap
$467,285
Loan Type
VAAdjust Your Scenario
$49,750
$49,750$467,285
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.27% (VA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,975/moAssumable @ 3.27% + gap loan
$5,801/moAssumed loan: $2,590/mo
Gap financing: $3,210/mo
$174less per month with the assumable
Your Savings on This Property
8415 Lauralwood, Colorado Springs · 3.27% VA vs 6.5% conventional
$174
per month
$2,084
per year
$62,513
over 30 years
$128,533
interest saved
How gap financing works: The equity gap ($467,285) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,750, 5% of purchase price) and a second mortgage for the rest ($417,535 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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