Loan Comparison: 3.03% vs 6.5%
14174 Albatross, Colorado Springs, CO 80921 · 3bd/4ba · $535,000
List Price
$535,000
Assumable Rate
3.03%
Remaining Balance
$333,547
Equity Gap
$201,453
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$201,453
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.03% (VA)
Blended Rate: 4.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.03% + gap loan
$2,755/moAssumed loan: $1,412/mo
Gap financing: $1,343/mo
$458less per month with the assumable
Your Savings on This Property
14174 Albatross, Colorado Springs · 3.03% VA vs 6.5% conventional
$458
per month
$5,490
per year
$164,707
over 30 years
$164,707
interest saved
How gap financing works: The equity gap ($201,453) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($174,703 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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