Loan Comparison: 3.61% vs 6.5%
2826 Pinnacle, Colorado Springs, CO 80910 · 4bd/2ba · $385,000
List Price
$385,000
Assumable Rate
3.61%
Remaining Balance
$178,167
Equity Gap
$258,507
Loan Type
VAAdjust Your Scenario
$19,250
$19,250$258,507
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (VA)
Blended Rate: 6.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 3.61% + gap loan
$2,651/moAssumed loan: $811/mo
Gap financing: $1,840/mo
Your Savings on This Property
2826 Pinnacle, Colorado Springs · 3.61% 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 ($258,507) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($239,257 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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