Loan Comparison: 3.75% vs 6.5%
5115 Farthing, Colorado Springs, CO 80906 · 5bd/4ba · $795,000
List Price
$795,000
Assumable Rate
3.75%
Remaining Balance
$244,951
Equity Gap
$550,049
Loan Type
VAAdjust Your Scenario
$39,750
$39,750$550,049
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 6.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,774/moAssumable @ 3.75% + gap loan
$5,058/moAssumed loan: $1,134/mo
Gap financing: $3,924/mo
Your Savings on This Property
5115 Farthing, Colorado Springs · 3.75% 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 ($550,049) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,750, 5% of purchase price) and a second mortgage for the rest ($510,299 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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