Loan Comparison: 3.31% vs 6.5%
1530 Gold Hill Mesa, Colorado Springs, CO 80905 · 5bd/4ba · $699,999
List Price
$699,999
Assumable Rate
3.31%
Remaining Balance
$560,146
Equity Gap
$323,753
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$323,753
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 3.31% + gap loan
$4,677/moAssumed loan: $2,456/mo
Gap financing: $2,220/mo
Your Savings on This Property
1530 Gold Hill Mesa, Colorado Springs · 3.31% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$13,516
interest saved
How gap financing works: The equity gap ($323,753) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($288,753 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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