Loan Comparison: 3.55% vs 6.5%
3202 Springridge, Colorado Springs, CO 80906 · 4bd/3ba · $869,900
List Price
$869,900
Assumable Rate
3.55%
Remaining Balance
$167,828
Equity Gap
$702,072
Loan Type
VAAdjust Your Scenario
$43,495
$43,495$702,072
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.55% (VA)
Blended Rate: 7.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,223/moAssumable @ 3.55% + gap loan
$5,822/moAssumed loan: $758/mo
Gap financing: $5,064/mo
Your Savings on This Property
3202 Springridge, Colorado Springs · 3.55% 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 ($702,072) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,495, 5% of purchase price) and a second mortgage for the rest ($658,577 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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