Loan Comparison: 3.08% vs 6.5%
8258 Sprague, Colorado Springs, CO 80908 · 5bd/4ba · $600,000
List Price
$600,000
Assumable Rate
3.08%
Remaining Balance
$380,735
Equity Gap
$219,264
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$219,264
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 3.08% + gap loan
$3,077/moAssumed loan: $1,622/mo
Gap financing: $1,455/mo
$526less per month with the assumable
Your Savings on This Property
8258 Sprague, Colorado Springs · 3.08% VA vs 6.5% conventional
$526
per month
$6,310
per year
$189,304
over 30 years
$189,303
interest saved
How gap financing works: The equity gap ($219,264) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($189,264 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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