Loan Comparison: 3.08% vs 6.5%
1125 Popes Valley, Colorado Springs, CO 80919 · 5bd/4ba · $739,977
List Price
$739,977
Assumable Rate
3.08%
Remaining Balance
$461,824
Equity Gap
$281,160
Loan Type
VAAdjust Your Scenario
$36,999
$36,999$281,160
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,443/moAssumable @ 3.08% + gap loan
$3,844/moAssumed loan: $1,967/mo
Gap financing: $1,877/mo
$599less per month with the assumable
Your Savings on This Property
1125 Popes Valley, Colorado Springs · 3.08% VA vs 6.5% conventional
$599
per month
$7,186
per year
$215,590
over 30 years
$218,597
interest saved
How gap financing works: The equity gap ($281,160) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,999, 5% of purchase price) and a second mortgage for the rest ($244,161 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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