Loan Comparison: 3.05% vs 6.5%
5133 Janga, Colorado Springs, CO 80924 · 4bd/3ba · $625,000
List Price
$625,000
Assumable Rate
3.05%
Remaining Balance
$521,895
Equity Gap
$105,315
Loan Type
VAAdjust Your Scenario
$31,250
$31,250$105,315
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 3.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 3.05% + gap loan
$2,784/moAssumed loan: $2,214/mo
Gap financing: $569/mo
$969less per month with the assumable
Your Savings on This Property
5133 Janga, Colorado Springs · 3.05% VA vs 6.5% conventional
$969
per month
$11,628
per year
$348,833
over 30 years
$351,043
interest saved
How gap financing works: The equity gap ($105,315) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($74,065 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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