Loan Comparison: 3.44% vs 6.5%
5755 Trout Creek Pass, Colorado Springs, CO 80917 · 2bd/1ba · $295,000
List Price
$295,000
Assumable Rate
3.44%
Remaining Balance
$117,496
Equity Gap
$176,836
Loan Type
VAAdjust Your Scenario
$14,750
$14,750$176,836
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (VA)
Blended Rate: 6.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 3.44% + gap loan
$1,770/moAssumed loan: $524/mo
Gap financing: $1,246/mo
$1less per month with the assumable
Your Savings on This Property
5755 Trout Creek Pass, Colorado Springs · 3.44% VA vs 6.5% conventional
$1
per month
$17
per year
$499
over 30 years
$0
interest saved
How gap financing works: The equity gap ($176,836) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($162,086 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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