Loan Comparison: 3.62% vs 6.5%
5260 Meadowgreen, Colorado Springs, CO 80919 · 4bd/3ba · $475,000
List Price
$475,000
Assumable Rate
3.62%
Remaining Balance
$300,712
Equity Gap
$175,590
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$175,590
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.62% + gap loan
$2,538/moAssumed loan: $1,371/mo
Gap financing: $1,168/mo
$314less per month with the assumable
Your Savings on This Property
5260 Meadowgreen, Colorado Springs · 3.62% VA vs 6.5% conventional
$314
per month
$3,770
per year
$113,088
over 30 years
$114,390
interest saved
How gap financing works: The equity gap ($175,590) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($151,840 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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