Loan Comparison: 3.07% vs 6.5%
10140 Seawolf, Colorado Springs, CO 80925 · 6bd/3ba · $579,000
List Price
$579,000
Assumable Rate
3.07%
Remaining Balance
$451,171
Equity Gap
$177,829
Loan Type
VAAdjust Your Scenario
$28,950
$28,950$177,829
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,477/moAssumable @ 3.07% + gap loan
$3,064/moAssumed loan: $1,919/mo
Gap financing: $1,145/mo
$413less per month with the assumable
Your Savings on This Property
10140 Seawolf, Colorado Springs · 3.07% VA vs 6.5% conventional
$413
per month
$4,953
per year
$148,575
over 30 years
$198,575
interest saved
How gap financing works: The equity gap ($177,829) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,950, 5% of purchase price) and a second mortgage for the rest ($148,879 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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