Loan Comparison: 3.25% vs 6.5%
3385 Viero, Colorado Springs, CO 80916 · 3bd/3ba · $413,000
List Price
$413,000
Assumable Rate
3.25%
Remaining Balance
$142,408
Equity Gap
$362,793
Loan Type
VAAdjust Your Scenario
$20,650
$20,650$362,793
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.25% (VA)
Blended Rate: 6.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,480/moAssumable @ 3.25% + gap loan
$3,251/moAssumed loan: $620/mo
Gap financing: $2,631/mo
Your Savings on This Property
3385 Viero, Colorado Springs · 3.25% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($362,793) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,650, 5% of purchase price) and a second mortgage for the rest ($342,143 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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