Loan Comparison: 3.07% vs 6.5%
5711 Tramore, Colorado Springs, CO 80927 · 3bd/2ba · $364,000
List Price
$364,000
Assumable Rate
3.07%
Remaining Balance
$293,241
Equity Gap
$70,758
Loan Type
VAAdjust Your Scenario
$18,200
$18,200$70,758
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,186/moAssumable @ 3.07% + gap loan
$1,652/moAssumed loan: $1,247/mo
Gap financing: $404/mo
$534less per month with the assumable
Your Savings on This Property
5711 Tramore, Colorado Springs · 3.07% VA vs 6.5% conventional
$534
per month
$6,410
per year
$192,295
over 30 years
$192,294
interest saved
How gap financing works: The equity gap ($70,758) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,200, 5% of purchase price) and a second mortgage for the rest ($52,558 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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