Loan Comparison: 3.8% vs 6.5%
6651 Big Leaf, Colorado Springs, CO 80927 · 4bd/4ba · $545,000
List Price
$545,000
Assumable Rate
3.8%
Remaining Balance
$182,386
Equity Gap
$364,612
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$364,612
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 6.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 3.8% + gap loan
$3,444/moAssumed loan: $850/mo
Gap financing: $2,594/mo
Your Savings on This Property
6651 Big Leaf, Colorado Springs · 3.8% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($364,612) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($337,362 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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