Loan Comparison: 3.31% vs 6.5%
6161 Decker, Colorado Springs, CO 80925 · 5bd/3ba · $530,000
List Price
$530,000
Assumable Rate
3.31%
Remaining Balance
$329,934
Equity Gap
$199,320
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$199,320
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 5.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 3.31% + gap loan
$2,776/moAssumed loan: $1,447/mo
Gap financing: $1,329/mo
$407less per month with the assumable
Your Savings on This Property
6161 Decker, Colorado Springs · 3.31% VA vs 6.5% conventional
$407
per month
$4,882
per year
$146,464
over 30 years
$145,718
interest saved
How gap financing works: The equity gap ($199,320) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($172,820 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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