Loan Comparison: 3.96% vs 6.5%
7881 Bengali, Colorado Springs, CO 80923 · 3bd/3ba · $435,000
List Price
$435,000
Assumable Rate
3.96%
Remaining Balance
$170,077
Equity Gap
$265,559
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$265,559
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (VA)
Blended Rate: 6.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 3.96% + gap loan
$2,683/moAssumed loan: $808/mo
Gap financing: $1,875/mo
Your Savings on This Property
7881 Bengali, Colorado Springs · 3.96% 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 ($265,559) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($243,809 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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