Loan Comparison: 3.72% vs 6.5%
2177 Gilpin, Colorado Springs, CO 80910 · 3bd/3ba · $330,000
List Price
$330,000
Assumable Rate
3.72%
Remaining Balance
$204,804
Equity Gap
$125,637
Loan Type
VAAdjust Your Scenario
$16,500
$16,500$125,637
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (VA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 3.72% + gap loan
$1,784/moAssumed loan: $945/mo
Gap financing: $839/mo
$197less per month with the assumable
Your Savings on This Property
2177 Gilpin, Colorado Springs · 3.72% VA vs 6.5% conventional
$197
per month
$2,368
per year
$71,052
over 30 years
$71,493
interest saved
How gap financing works: The equity gap ($125,637) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,500, 5% of purchase price) and a second mortgage for the rest ($109,137 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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