Loan Comparison: 3.1% vs 6.5%
10036 Thunderbolt, Colorado Springs, CO 80925 · 3bd/2ba · $445,000
List Price
$445,000
Assumable Rate
3.1%
Remaining Balance
$402,023
Equity Gap
$44,659
Loan Type
VAAdjust Your Scenario
$22,250
$22,250$44,659
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.1% + gap loan
$1,889/moAssumed loan: $1,717/mo
Gap financing: $172/mo
$783less per month with the assumable
Your Savings on This Property
10036 Thunderbolt, Colorado Springs · 3.1% VA vs 6.5% conventional
$783
per month
$9,397
per year
$281,901
over 30 years
$283,583
interest saved
How gap financing works: The equity gap ($44,659) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($22,409 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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