Loan Comparison: 3.16% vs 6.5%
564 Fox Run, Colorado Springs, CO 80921 · 4bd/4ba · $649,900
List Price
$649,900
Assumable Rate
3.16%
Remaining Balance
$309,843
Equity Gap
$512,332
Loan Type
VAAdjust Your Scenario
$32,495
$32,495$512,332
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 6.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,902/moAssumable @ 3.16% + gap loan
$5,023/moAssumed loan: $1,333/mo
Gap financing: $3,690/mo
Your Savings on This Property
564 Fox Run, Colorado Springs · 3.16% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($512,332) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,495, 5% of purchase price) and a second mortgage for the rest ($479,837 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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