Loan Comparison: 3.06% vs 6.5%
2971 Namib, Colorado Springs, CO 80939 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.06%
Remaining Balance
$332,362
Equity Gap
$92,637
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$92,637
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.06% + gap loan
$1,961/moAssumed loan: $1,412/mo
Gap financing: $549/mo
$591less per month with the assumable
Your Savings on This Property
2971 Namib, Colorado Springs · 3.06% VA vs 6.5% conventional
$591
per month
$7,092
per year
$212,775
over 30 years
$212,774
interest saved
How gap financing works: The equity gap ($92,637) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($71,387 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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