Loan Comparison: 3.35% vs 6.5%
3139 Soaring Bird, Colorado Springs, CO 80920 · 3bd/0ba · $374,000
List Price
$374,000
Assumable Rate
3.35%
Remaining Balance
$139,396
Equity Gap
$234,084
Loan Type
VAAdjust Your Scenario
$18,700
$18,700$234,084
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 6.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,246/moAssumable @ 3.35% + gap loan
$2,270/moAssumed loan: $614/mo
Gap financing: $1,656/mo
Your Savings on This Property
3139 Soaring Bird, Colorado Springs · 3.35% 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 ($234,084) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,700, 5% of purchase price) and a second mortgage for the rest ($215,384 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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