Loan Comparison: 3.18% vs 6.5%
17512 Pond View, Colorado Springs, CO 80908 · 5bd/5ba · $1,650,000
List Price
$1,650,000
Assumable Rate
3.18%
Remaining Balance
$699,923
Equity Gap
$946,923
Loan Type
VAAdjust Your Scenario
$82,500
$82,500$946,923
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.18% (VA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$9,908/moAssumable @ 3.18% + gap loan
$9,666/moAssumed loan: $3,019/mo
Gap financing: $6,647/mo
$242less per month with the assumable
Your Savings on This Property
17512 Pond View, Colorado Springs · 3.18% VA vs 6.5% conventional
$242
per month
$2,901
per year
$87,018
over 30 years
$83,864
interest saved
How gap financing works: The equity gap ($946,923) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($82,500, 5% of purchase price) and a second mortgage for the rest ($864,423 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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