Loan Comparison: 3.06% vs 6.5%
4175 Danceglen, Colorado Springs, CO 80906 · 4bd/3ba · $575,000
List Price
$575,000
Assumable Rate
3.06%
Remaining Balance
$187,052
Equity Gap
$388,761
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$388,761
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 6.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.06% + gap loan
$3,563/moAssumed loan: $795/mo
Gap financing: $2,768/mo
Your Savings on This Property
4175 Danceglen, Colorado Springs · 3.06% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($388,761) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($360,011 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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