Loan Comparison: 3.07% vs 6.5%
7272 Electronic, Colorado Springs, CO 80922 · 2bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.07%
Remaining Balance
$378,224
Equity Gap
$71,776
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$71,776
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.07% + gap loan
$1,988/moAssumed loan: $1,609/mo
Gap financing: $379/mo
$714less per month with the assumable
Your Savings on This Property
7272 Electronic, Colorado Springs · 3.07% VA vs 6.5% conventional
$714
per month
$8,571
per year
$257,140
over 30 years
$257,140
interest saved
How gap financing works: The equity gap ($71,776) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($49,276 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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