Loan Comparison: 3.05% vs 6.5%
1952 Clayhouse, Colorado Springs, CO 80921 · 5bd/5ba · $999,950
List Price
$999,950
Assumable Rate
3.05%
Remaining Balance
$555,925
Equity Gap
$507,453
Loan Type
VAAdjust Your Scenario
$49,998
$49,998$507,453
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,004/moAssumable @ 3.05% + gap loan
$5,876/moAssumed loan: $2,359/mo
Gap financing: $3,517/mo
$128less per month with the assumable
Your Savings on This Property
1952 Clayhouse, Colorado Springs · 3.05% VA vs 6.5% conventional
$128
per month
$1,537
per year
$46,113
over 30 years
$109,541
interest saved
How gap financing works: The equity gap ($507,453) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,998, 5% of purchase price) and a second mortgage for the rest ($457,455 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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