Loan Comparison: 3.51% vs 6.5%
54 Goret, Colorado Springs, CO 80911 · 3bd/1ba · $280,000
List Price
$280,000
Assumable Rate
3.51%
Remaining Balance
$196,206
Equity Gap
$83,793
Loan Type
VAAdjust Your Scenario
$14,000
$14,000$83,793
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.51% (VA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 3.51% + gap loan
$1,419/moAssumed loan: $882/mo
Gap financing: $537/mo
$263less per month with the assumable
Your Savings on This Property
54 Goret, Colorado Springs · 3.51% VA vs 6.5% conventional
$263
per month
$3,150
per year
$94,502
over 30 years
$94,501
interest saved
How gap financing works: The equity gap ($83,793) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,000, 5% of purchase price) and a second mortgage for the rest ($69,793 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.