Loan Comparison: 3.45% vs 6.5%
7210 White Rapid, Colorado Springs, CO 80922 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.45%
Remaining Balance
$263,423
Equity Gap
$186,577
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$186,577
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.45% + gap loan
$2,437/moAssumed loan: $1,176/mo
Gap financing: $1,262/mo
$265less per month with the assumable
Your Savings on This Property
7210 White Rapid, Colorado Springs · 3.45% VA vs 6.5% conventional
$265
per month
$3,179
per year
$95,376
over 30 years
$95,376
interest saved
How gap financing works: The equity gap ($186,577) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($164,077 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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