Loan Comparison: 3.06% vs 6.5%
4687 Ports Down, Colorado Springs, CO 80911 · 3bd/3ba · $305,000
List Price
$305,000
Assumable Rate
3.06%
Remaining Balance
$238,077
Equity Gap
$66,923
Loan Type
VAAdjust Your Scenario
$15,250
$15,250$66,923
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,831/moAssumable @ 3.06% + gap loan
$1,409/moAssumed loan: $1,011/mo
Gap financing: $397/mo
$423less per month with the assumable
Your Savings on This Property
4687 Ports Down, Colorado Springs · 3.06% VA vs 6.5% conventional
$423
per month
$5,072
per year
$152,148
over 30 years
$152,148
interest saved
How gap financing works: The equity gap ($66,923) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,250, 5% of purchase price) and a second mortgage for the rest ($51,673 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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