Loan Comparison: 3.45% vs 6.5%
6943 Cabriolet, Colorado Springs, CO 80923 · 3bd/2ba · $435,000
List Price
$435,000
Assumable Rate
3.45%
Remaining Balance
$341,331
Equity Gap
$236,669
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$236,669
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 3.45% + gap loan
$3,176/moAssumed loan: $1,523/mo
Gap financing: $1,653/mo
Your Savings on This Property
6943 Cabriolet, Colorado Springs · 3.45% 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 ($236,669) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($214,919 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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