Loan Comparison: 2.9% vs 6.5%
3820 Soft Breeze, Colorado Springs, CO 80918 · 4bd/2ba · $445,000
List Price
$445,000
Assumable Rate
2.9%
Remaining Balance
$371,286
Equity Gap
$75,328
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$75,328
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 2.9% + gap loan
$1,954/moAssumed loan: $1,545/mo
Gap financing: $408/mo
$719less per month with the assumable
Your Savings on This Property
3820 Soft Breeze, Colorado Springs · 2.9% VA vs 6.5% conventional
$719
per month
$8,622
per year
$258,674
over 30 years
$260,288
interest saved
How gap financing works: The equity gap ($75,328) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($53,078 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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