Loan Comparison: 3.07% vs 6.5%
9559 Desert Lily, Colorado Springs, CO 80925 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.07%
Remaining Balance
$407,725
Equity Gap
$42,275
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$42,275
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.07% + gap loan
$1,886/moAssumed loan: $1,734/mo
Gap financing: $152/mo
$816less per month with the assumable
Your Savings on This Property
9559 Desert Lily, Colorado Springs · 3.07% VA vs 6.5% conventional
$816
per month
$9,787
per year
$293,624
over 30 years
$293,624
interest saved
How gap financing works: The equity gap ($42,275) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($19,775 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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