Loan Comparison: 3.07% vs 6.5%
8121 De Anza Peak, Colorado Springs, CO 80924 · 4bd/4ba · $598,000
List Price
$598,000
Assumable Rate
3.07%
Remaining Balance
$406,750
Equity Gap
$191,250
Loan Type
VAAdjust Your Scenario
$29,900
$29,900$191,250
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,591/moAssumable @ 3.07% + gap loan
$2,971/moAssumed loan: $1,730/mo
Gap financing: $1,241/mo
$620less per month with the assumable
Your Savings on This Property
8121 De Anza Peak, Colorado Springs · 3.07% VA vs 6.5% conventional
$620
per month
$7,438
per year
$223,153
over 30 years
$223,153
interest saved
How gap financing works: The equity gap ($191,250) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,900, 5% of purchase price) and a second mortgage for the rest ($161,350 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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