Loan Comparison: 3.31% vs 6.5%
7773 Dry Willow, Colorado Springs, CO 80908 · 5bd/3ba · $565,000
List Price
$565,000
Assumable Rate
3.31%
Remaining Balance
$333,019
Equity Gap
$231,981
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$231,981
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.31% + gap loan
$3,027/moAssumed loan: $1,460/mo
Gap financing: $1,567/mo
$366less per month with the assumable
Your Savings on This Property
7773 Dry Willow, Colorado Springs · 3.31% VA vs 6.5% conventional
$366
per month
$4,390
per year
$131,688
over 30 years
$131,688
interest saved
How gap financing works: The equity gap ($231,981) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($203,731 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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