Loan Comparison: 3.06% vs 6.5%
8809 Christy, Colorado Springs, CO 80951 · 3bd/3ba · $496,000
List Price
$496,000
Assumable Rate
3.06%
Remaining Balance
$412,141
Equity Gap
$83,859
Loan Type
VAAdjust Your Scenario
$24,800
$24,800$83,859
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,978/moAssumable @ 3.06% + gap loan
$2,205/moAssumed loan: $1,751/mo
Gap financing: $454/mo
$773less per month with the assumable
Your Savings on This Property
8809 Christy, Colorado Springs · 3.06% VA vs 6.5% conventional
$773
per month
$9,279
per year
$278,361
over 30 years
$278,361
interest saved
How gap financing works: The equity gap ($83,859) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,800, 5% of purchase price) and a second mortgage for the rest ($59,059 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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