Loan Comparison: 3.04% vs 6.5%
10166 Pine Glade, Colorado Springs, CO 80920 · 5bd/3ba · $915,000
List Price
$915,000
Assumable Rate
3.04%
Remaining Balance
$532,924
Equity Gap
$380,845
Loan Type
VAAdjust Your Scenario
$45,750
$45,750$380,845
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,494/moAssumable @ 3.04% + gap loan
$4,835/moAssumed loan: $2,258/mo
Gap financing: $2,577/mo
$659less per month with the assumable
Your Savings on This Property
10166 Pine Glade, Colorado Springs · 3.04% VA vs 6.5% conventional
$659
per month
$7,912
per year
$237,355
over 30 years
$236,124
interest saved
How gap financing works: The equity gap ($380,845) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,750, 5% of purchase price) and a second mortgage for the rest ($335,095 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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