Loan Comparison: 3.8% vs 6.5%
5353 Palomino Ranch, Colorado Springs, CO 80922 · 2bd/2ba · $290,000
List Price
$290,000
Assumable Rate
3.8%
Remaining Balance
$191,514
Equity Gap
$98,486
Loan Type
VAAdjust Your Scenario
$14,500
$14,500$98,486
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 3.8% + gap loan
$1,538/moAssumed loan: $892/mo
Gap financing: $646/mo
$203less per month with the assumable
Your Savings on This Property
5353 Palomino Ranch, Colorado Springs · 3.8% VA vs 6.5% conventional
$203
per month
$2,438
per year
$73,150
over 30 years
$73,150
interest saved
How gap financing works: The equity gap ($98,486) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($83,986 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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