Loan Comparison: 3.06% vs 6.5%
6541 Whistle Bay, Colorado Springs, CO 80923 · 4bd/3ba · $565,000
List Price
$565,000
Assumable Rate
3.06%
Remaining Balance
$347,343
Equity Gap
$219,167
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$219,167
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.06% + gap loan
$2,944/moAssumed loan: $1,476/mo
Gap financing: $1,468/mo
$449less per month with the assumable
Your Savings on This Property
6541 Whistle Bay, Colorado Springs · 3.06% VA vs 6.5% conventional
$449
per month
$5,388
per year
$161,627
over 30 years
$163,137
interest saved
How gap financing works: The equity gap ($219,167) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($190,917 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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