Loan Comparison: 3.07% vs 6.5%
3780 Riviera, Colorado Springs, CO 80922 · 3bd/2ba · $322,000
List Price
$322,000
Assumable Rate
3.07%
Remaining Balance
$299,855
Equity Gap
$32,136
Loan Type
VAAdjust Your Scenario
$16,100
$16,100$32,136
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,933/moAssumable @ 3.07% + gap loan
$1,399/moAssumed loan: $1,276/mo
Gap financing: $123/mo
$535less per month with the assumable
Your Savings on This Property
3780 Riviera, Colorado Springs · 3.07% VA vs 6.5% conventional
$535
per month
$6,416
per year
$192,472
over 30 years
$202,463
interest saved
How gap financing works: The equity gap ($32,136) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,100, 5% of purchase price) and a second mortgage for the rest ($16,036 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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