Loan Comparison: 3.16% vs 6.5%
4886 Rusty Nail, Colorado Springs, CO 80916 · 5bd/3ba · $300,000
List Price
$300,000
Assumable Rate
3.16%
Remaining Balance
$222,977
Equity Gap
$77,023
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$77,023
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.16% + gap loan
$1,436/moAssumed loan: $959/mo
Gap financing: $477/mo
$365less per month with the assumable
Your Savings on This Property
4886 Rusty Nail, Colorado Springs · 3.16% VA vs 6.5% conventional
$365
per month
$4,381
per year
$131,422
over 30 years
$131,422
interest saved
How gap financing works: The equity gap ($77,023) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($62,023 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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