Loan Comparison: 3.47% vs 6.5%
1129 Logan, Colorado Springs, CO 80909 · 3bd/2ba · $475,000
List Price
$475,000
Assumable Rate
3.47%
Remaining Balance
$314,564
Equity Gap
$159,736
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$159,736
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.47% + gap loan
$2,453/moAssumed loan: $1,407/mo
Gap financing: $1,046/mo
$399less per month with the assumable
Your Savings on This Property
1129 Logan, Colorado Springs · 3.47% VA vs 6.5% conventional
$399
per month
$4,792
per year
$143,756
over 30 years
$143,056
interest saved
How gap financing works: The equity gap ($159,736) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($135,986 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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