Loan Comparison: 3.06% vs 6.5%
13388 Positano, Colorado Springs, CO 80921 · 3bd/3ba · $424,900
List Price
$424,900
Assumable Rate
3.06%
Remaining Balance
$379,981
Equity Gap
$44,919
Loan Type
VAAdjust Your Scenario
$21,245
$21,245$44,919
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,551/moAssumable @ 3.06% + gap loan
$1,796/moAssumed loan: $1,614/mo
Gap financing: $182/mo
$755less per month with the assumable
Your Savings on This Property
13388 Positano, Colorado Springs · 3.06% VA vs 6.5% conventional
$755
per month
$9,060
per year
$271,802
over 30 years
$271,802
interest saved
How gap financing works: The equity gap ($44,919) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,245, 5% of purchase price) and a second mortgage for the rest ($23,674 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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