Loan Comparison: 3.44% vs 6.5%
5755 Trout Creek Pass, Colorado Springs, CO 80917 · 2bd/1ba · $300,000
List Price
$300,000
Assumable Rate
3.44%
Remaining Balance
$119,158
Equity Gap
$181,836
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$181,836
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (VA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.44% + gap loan
$1,814/moAssumed loan: $531/mo
Gap financing: $1,283/mo
Your Savings on This Property
5755 Trout Creek Pass, Colorado Springs · 3.44% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($181,836) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($166,836 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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