Loan Comparison: 3.96% vs 6.5%
6635 Defoe, Colorado Springs, CO 80911 · 6bd/3ba · $445,000
List Price
$445,000
Assumable Rate
3.96%
Remaining Balance
$193,986
Equity Gap
$251,013
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$251,013
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (VA)
Blended Rate: 6.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.96% + gap loan
$2,681/moAssumed loan: $922/mo
Gap financing: $1,759/mo
Your Savings on This Property
6635 Defoe, Colorado Springs · 3.96% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($251,013) 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 ($228,763 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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