Loan Comparison: 3.64% vs 6.5%
629 Arnold, Colorado Springs, CO 80904 · 3bd/2ba · $800,000
List Price
$800,000
Assumable Rate
3.64%
Remaining Balance
$443,961
Equity Gap
$356,038
Loan Type
VAAdjust Your Scenario
$40,000
$40,000$356,038
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (VA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 3.64% + gap loan
$4,458/moAssumed loan: $2,028/mo
Gap financing: $2,430/mo
$345less per month with the assumable
Your Savings on This Property
629 Arnold, Colorado Springs · 3.64% VA vs 6.5% conventional
$345
per month
$4,143
per year
$124,279
over 30 years
$124,278
interest saved
How gap financing works: The equity gap ($356,038) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($316,038 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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