Loan Comparison: 3.55% vs 6.5%
2210 Farnsworth, Colorado Springs, CO 80916 · 6bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.55%
Remaining Balance
$83,873
Equity Gap
$330,807
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$330,807
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.55% (VA)
Blended Rate: 7.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.55% + gap loan
$2,763/moAssumed loan: $379/mo
Gap financing: $2,384/mo
Your Savings on This Property
2210 Farnsworth, Colorado Springs · 3.55% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($330,807) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($310,057 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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