Loan Comparison: 3.07% vs 6.5%
4162 Hidden, Colorado Springs, CO 80917 · 5bd/3ba · $389,999
List Price
$389,999
Assumable Rate
3.07%
Remaining Balance
$370,169
Equity Gap
$19,830
Loan Type
VAAdjust Your Scenario
$19,500
$19,500$19,830
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.07% + gap loan
$1,577/moAssumed loan: $1,575/mo
Gap financing: $3/mo
$765less per month with the assumable
Your Savings on This Property
4162 Hidden, Colorado Springs · 3.07% VA vs 6.5% conventional
$765
per month
$9,175
per year
$275,260
over 30 years
$275,260
interest saved
How gap financing works: The equity gap ($19,830) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($330 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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