Loan Comparison: 3.16% vs 6.5%
13296 Cedarville, Colorado Springs, CO 80921 · 5bd/4ba · $850,000
List Price
$850,000
Assumable Rate
3.16%
Remaining Balance
$556,285
Equity Gap
$442,782
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$442,782
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 3.16% + gap loan
$5,471/moAssumed loan: $2,394/mo
Gap financing: $3,078/mo
Your Savings on This Property
13296 Cedarville, Colorado Springs · 3.16% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$16,779
interest saved
How gap financing works: The equity gap ($442,782) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($400,282 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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