Loan Comparison: 3.76% vs 6.5%
1049 Cambridge, Colorado Springs, CO 80906 · 4bd/2ba · $375,000
List Price
$375,000
Assumable Rate
3.76%
Remaining Balance
$290,510
Equity Gap
$84,490
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$84,490
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.76% + gap loan
$1,853/moAssumed loan: $1,347/mo
Gap financing: $505/mo
$399less per month with the assumable
Your Savings on This Property
1049 Cambridge, Colorado Springs · 3.76% VA vs 6.5% conventional
$399
per month
$4,791
per year
$143,717
over 30 years
$143,717
interest saved
How gap financing works: The equity gap ($84,490) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($65,740 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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