Loan Comparison: 3.46% vs 6.5%
7604 Autumn Knoll, Colorado Springs, CO 80922 · 4bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.46%
Remaining Balance
$164,107
Equity Gap
$300,435
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$300,435
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.46% (VA)
Blended Rate: 6.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.46% + gap loan
$2,865/moAssumed loan: $733/mo
Gap financing: $2,131/mo
Your Savings on This Property
7604 Autumn Knoll, Colorado Springs · 3.46% 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 ($300,435) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($277,185 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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