Loan Comparison: 3.16% vs 6.5%
533 17th, Colorado Springs, CO 80904 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.16%
Remaining Balance
$459,713
Equity Gap
$169,423
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$169,423
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.16% + gap loan
$3,069/moAssumed loan: $1,978/mo
Gap financing: $1,091/mo
$233less per month with the assumable
Your Savings on This Property
533 17th, Colorado Springs · 3.16% VA vs 6.5% conventional
$233
per month
$2,799
per year
$83,962
over 30 years
$163,098
interest saved
How gap financing works: The equity gap ($169,423) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($141,923 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.