Loan Comparison: 5.84% vs 6.5%
3830 Hemmingway, Colorado Springs, CO 80930 · 4bd/3ba · $699,999
List Price
$699,999
Assumable Rate
5.84%
Remaining Balance
$618,231
Equity Gap
$81,767
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$81,767
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.84% (VA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 5.84% + gap loan
$4,003/moAssumed loan: $3,643/mo
Gap financing: $360/mo
$200less per month with the assumable
Your Savings on This Property
3830 Hemmingway, Colorado Springs · 5.84% VA vs 6.5% conventional
$200
per month
$2,405
per year
$72,143
over 30 years
$72,142
interest saved
How gap financing works: The equity gap ($81,767) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($46,767 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.
🏠
Back to This Listing
View photos, details, and request a showing for 3830 Hemmingway.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.