Loan Comparison: 3.8% vs 6.5%
6231 Scottsbluff, Colorado Springs, CO 80923 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.8%
Remaining Balance
$234,174
Equity Gap
$196,471
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$196,471
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.8% + gap loan
$2,442/moAssumed loan: $1,091/mo
Gap financing: $1,351/mo
$50less per month with the assumable
Your Savings on This Property
6231 Scottsbluff, Colorado Springs · 3.8% VA vs 6.5% conventional
$50
per month
$596
per year
$17,869
over 30 years
$33,514
interest saved
How gap financing works: The equity gap ($196,471) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($175,721 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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