Loan Comparison: 3.76% vs 6.5%
1049 Cambridge, Colorado Springs, CO 80906 · 4bd/2ba · $325,000
List Price
$325,000
Assumable Rate
3.76%
Remaining Balance
$289,407
Equity Gap
$35,593
Loan Type
VAAdjust Your Scenario
$16,250
$16,250$35,593
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.76% + gap loan
$1,491/moAssumed loan: $1,342/mo
Gap financing: $149/mo
$461less per month with the assumable
Your Savings on This Property
1049 Cambridge, Colorado Springs · 3.76% VA vs 6.5% conventional
$461
per month
$5,530
per year
$165,905
over 30 years
$165,905
interest saved
How gap financing works: The equity gap ($35,593) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($19,343 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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