Loan Comparison: 3.69% vs 6.5%
1328 Hamstead, Colorado Springs, CO 80907 · 3bd/3ba · $530,000
List Price
$530,000
Assumable Rate
3.69%
Remaining Balance
$272,568
Equity Gap
$257,431
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$257,431
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (VA)
Blended Rate: 5.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 3.69% + gap loan
$3,029/moAssumed loan: $1,253/mo
Gap financing: $1,776/mo
$154less per month with the assumable
Your Savings on This Property
1328 Hamstead, Colorado Springs · 3.69% VA vs 6.5% conventional
$154
per month
$1,845
per year
$55,354
over 30 years
$55,353
interest saved
How gap financing works: The equity gap ($257,431) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($230,931 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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