Loan Comparison: 3.06% vs 6.5%
5424 Country Heights, Colorado Springs, CO 80917 · 4bd/3ba · $509,900
List Price
$509,900
Assumable Rate
3.06%
Remaining Balance
$396,051
Equity Gap
$112,974
Loan Type
VAAdjust Your Scenario
$25,495
$25,495$112,974
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 3.06% + gap loan
$2,355/moAssumed loan: $1,683/mo
Gap financing: $673/mo
$707less per month with the assumable
Your Savings on This Property
5424 Country Heights, Colorado Springs · 3.06% VA vs 6.5% conventional
$707
per month
$8,478
per year
$254,348
over 30 years
$253,473
interest saved
How gap financing works: The equity gap ($112,974) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,495, 5% of purchase price) and a second mortgage for the rest ($87,479 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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