Loan Comparison: 3.87% vs 6.5%
7326 Allens Park, Colorado Springs, CO 80922 · 4bd/3ba · $490,000
List Price
$490,000
Assumable Rate
3.87%
Remaining Balance
$299,594
Equity Gap
$290,406
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$290,406
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (VA)
Blended Rate: 6.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.87% + gap loan
$3,453/moAssumed loan: $1,408/mo
Gap financing: $2,045/mo
Your Savings on This Property
7326 Allens Park, Colorado Springs · 3.87% 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 ($290,406) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($265,906 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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