Loan Comparison: 3.77% vs 6.5%
7175 Woody Creek, Colorado Springs, CO 80911 · 4bd/2ba · $400,000
List Price
$400,000
Assumable Rate
3.77%
Remaining Balance
$275,384
Equity Gap
$149,062
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$149,062
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (VA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.77% + gap loan
$2,271/moAssumed loan: $1,278/mo
Gap financing: $992/mo
$131less per month with the assumable
Your Savings on This Property
7175 Woody Creek, Colorado Springs · 3.77% VA vs 6.5% conventional
$131
per month
$1,572
per year
$47,164
over 30 years
$71,610
interest saved
How gap financing works: The equity gap ($149,062) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($129,062 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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