Loan Comparison: 3.47% vs 6.5%
2712 Arlington, Colorado Springs, CO 80910 · 4bd/3ba · $374,999
List Price
$374,999
Assumable Rate
3.47%
Remaining Balance
$249,667
Equity Gap
$124,774
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$124,774
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.47% + gap loan
$1,932/moAssumed loan: $1,117/mo
Gap financing: $815/mo
$320less per month with the assumable
Your Savings on This Property
2712 Arlington, Colorado Springs · 3.47% VA vs 6.5% conventional
$320
per month
$3,835
per year
$115,043
over 30 years
$114,485
interest saved
How gap financing works: The equity gap ($124,774) 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 ($106,024 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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