Loan Comparison: 3.07% vs 6.5%
10152 Castor, Colorado Springs, CO 80925 · 4bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.07%
Remaining Balance
$316,903
Equity Gap
$98,096
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$98,096
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.07% + gap loan
$1,943/moAssumed loan: $1,348/mo
Gap financing: $595/mo
$549less per month with the assumable
Your Savings on This Property
10152 Castor, Colorado Springs · 3.07% VA vs 6.5% conventional
$549
per month
$6,590
per year
$197,689
over 30 years
$197,688
interest saved
How gap financing works: The equity gap ($98,096) 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 ($77,346 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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