Loan Comparison: 3.62% vs 6.5%
1102 Maxwell, Colorado Springs, CO 80906 · 4bd/2ba · $170,000
List Price
$170,000
Assumable Rate
3.62%
Remaining Balance
$158,042
Equity Gap
$12,305
Loan Type
VAAdjust Your Scenario
$8,500
$8,500$12,305
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 3.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,021/moAssumable @ 3.62% + gap loan
$750/moAssumed loan: $720/mo
Gap financing: $29/mo
$271less per month with the assumable
Your Savings on This Property
1102 Maxwell, Colorado Springs · 3.62% VA vs 6.5% conventional
$271
per month
$3,255
per year
$97,641
over 30 years
$97,988
interest saved
How gap financing works: The equity gap ($12,305) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,500, 5% of purchase price) and a second mortgage for the rest ($3,805 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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