Loan Comparison: 3.31% vs 6.5%
745 Herbglen, Colorado Springs, CO 80906 · 5bd/5ba · $793,000
List Price
$793,000
Assumable Rate
3.31%
Remaining Balance
$348,244
Equity Gap
$444,756
Loan Type
VAAdjust Your Scenario
$39,650
$39,650$444,756
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,762/moAssumable @ 3.31% + gap loan
$4,642/moAssumed loan: $1,527/mo
Gap financing: $3,115/mo
$120less per month with the assumable
Your Savings on This Property
745 Herbglen, Colorado Springs · 3.31% VA vs 6.5% conventional
$120
per month
$1,436
per year
$43,091
over 30 years
$43,091
interest saved
How gap financing works: The equity gap ($444,756) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,650, 5% of purchase price) and a second mortgage for the rest ($405,106 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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