Loan Comparison: 3.47% vs 6.5%
15849 Longmeadow, Colorado Springs, CO 80921 · 6bd/4ba · $699,000
List Price
$699,000
Assumable Rate
3.47%
Remaining Balance
$330,843
Equity Gap
$367,418
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$367,418
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 3.47% + gap loan
$4,036/moAssumed loan: $1,480/mo
Gap financing: $2,556/mo
$161less per month with the assumable
Your Savings on This Property
15849 Longmeadow, Colorado Springs · 3.47% VA vs 6.5% conventional
$161
per month
$1,929
per year
$57,873
over 30 years
$57,134
interest saved
How gap financing works: The equity gap ($367,418) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($332,468 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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