Loan Comparison: 3.66% vs 6.5%
8069 Scarborough, Colorado Springs, CO 80920 · 4bd/4ba · $535,000
List Price
$535,000
Assumable Rate
3.66%
Remaining Balance
$243,686
Equity Gap
$290,614
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$290,614
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (VA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.66% + gap loan
$3,145/moAssumed loan: $1,116/mo
Gap financing: $2,029/mo
$67less per month with the assumable
Your Savings on This Property
8069 Scarborough, Colorado Springs · 3.66% VA vs 6.5% conventional
$67
per month
$810
per year
$24,286
over 30 years
$23,586
interest saved
How gap financing works: The equity gap ($290,614) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($263,864 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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