Loan Comparison: 3.07% vs 6.5%
6598 Alliance, Colorado Springs, CO 80925 · 5bd/4ba · $525,000
List Price
$525,000
Assumable Rate
3.07%
Remaining Balance
$478,602
Equity Gap
$45,377
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$45,377
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.07% + gap loan
$2,183/moAssumed loan: $2,036/mo
Gap financing: $147/mo
$969less per month with the assumable
Your Savings on This Property
6598 Alliance, Colorado Springs · 3.07% VA vs 6.5% conventional
$969
per month
$11,633
per year
$349,002
over 30 years
$347,981
interest saved
How gap financing works: The equity gap ($45,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($19,127 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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