Loan Comparison: 3.07% vs 6.5%
2224 Ramsgate, Colorado Springs, CO 80919 · 5bd/4ba · $714,900
List Price
$714,900
Assumable Rate
3.07%
Remaining Balance
$494,493
Equity Gap
$220,407
Loan Type
VAAdjust Your Scenario
$35,745
$35,745$220,407
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,293/moAssumable @ 3.07% + gap loan
$3,523/moAssumed loan: $2,104/mo
Gap financing: $1,420/mo
$769less per month with the assumable
Your Savings on This Property
2224 Ramsgate, Colorado Springs · 3.07% VA vs 6.5% conventional
$769
per month
$9,232
per year
$276,953
over 30 years
$276,953
interest saved
How gap financing works: The equity gap ($220,407) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,745, 5% of purchase price) and a second mortgage for the rest ($184,662 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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