Loan Comparison: 3.45% vs 6.5%
2310 La Salle, Colorado Springs, CO 80909 · 3bd/4ba · $364,000
List Price
$364,000
Assumable Rate
3.45%
Remaining Balance
$317,478
Equity Gap
$45,888
Loan Type
VAAdjust Your Scenario
$18,200
$18,200$45,888
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,186/moAssumable @ 3.45% + gap loan
$1,630/moAssumed loan: $1,417/mo
Gap financing: $213/mo
$556less per month with the assumable
Your Savings on This Property
2310 La Salle, Colorado Springs · 3.45% VA vs 6.5% conventional
$556
per month
$6,672
per year
$200,168
over 30 years
$199,534
interest saved
How gap financing works: The equity gap ($45,888) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,200, 5% of purchase price) and a second mortgage for the rest ($27,688 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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