Loan Comparison: 3.11% vs 6.5%
13640 Winslow, Colorado Springs, CO 80908 · 7bd/7ba · $1,970,000
List Price
$1,970,000
Assumable Rate
3.11%
Remaining Balance
$1,820,457
Equity Gap
$153,376
Loan Type
VAAdjust Your Scenario
$98,500
$98,500$153,376
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.11% (VA)
Blended Rate: 3.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$11,829/moAssumable @ 3.11% + gap loan
$8,205/moAssumed loan: $7,784/mo
Gap financing: $422/mo
$3,624less per month with the assumable
Your Savings on This Property
13640 Winslow, Colorado Springs · 3.11% VA vs 6.5% conventional
$3,624
per month
$43,484
per year
$1,304,519
over 30 years
$1,308,352
interest saved
How gap financing works: The equity gap ($153,376) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($98,500, 5% of purchase price) and a second mortgage for the rest ($54,876 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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