Loan Comparison: 3.69% vs 6.5%
1328 Hamstead, Colorado Springs, CO 80907 · 3bd/3ba · $545,000
List Price
$545,000
Assumable Rate
3.69%
Remaining Balance
$274,985
Equity Gap
$271,220
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$271,220
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (VA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 3.69% + gap loan
$3,140/moAssumed loan: $1,264/mo
Gap financing: $1,876/mo
$132less per month with the assumable
Your Savings on This Property
1328 Hamstead, Colorado Springs · 3.69% VA vs 6.5% conventional
$132
per month
$1,590
per year
$47,685
over 30 years
$48,890
interest saved
How gap financing works: The equity gap ($271,220) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($243,970 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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