Loan Comparison: 3.07% vs 6.5%
2736 Ben, Colorado Springs, CO 80909 · 3bd/1ba · $325,000
List Price
$325,000
Assumable Rate
3.07%
Remaining Balance
$279,182
Equity Gap
$46,409
Loan Type
VAAdjust Your Scenario
$16,250
$16,250$46,409
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.07% + gap loan
$1,420/moAssumed loan: $1,188/mo
Gap financing: $232/mo
$532less per month with the assumable
Your Savings on This Property
2736 Ben, Colorado Springs · 3.07% VA vs 6.5% conventional
$532
per month
$6,384
per year
$191,522
over 30 years
$192,113
interest saved
How gap financing works: The equity gap ($46,409) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($30,159 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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