Loan Comparison: 3.9% vs 6.5%
1420 Grass Valley, Colorado Springs, CO 80906 · 5bd/4ba · $415,999
List Price
$415,999
Assumable Rate
3.9%
Remaining Balance
$238,657
Equity Gap
$177,342
Loan Type
VAAdjust Your Scenario
$20,800
$20,800$177,342
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (VA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,498/moAssumable @ 3.9% + gap loan
$2,329/moAssumed loan: $1,126/mo
Gap financing: $1,204/mo
$169less per month with the assumable
Your Savings on This Property
1420 Grass Valley, Colorado Springs · 3.9% VA vs 6.5% conventional
$169
per month
$2,023
per year
$60,691
over 30 years
$60,691
interest saved
How gap financing works: The equity gap ($177,342) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,800, 5% of purchase price) and a second mortgage for the rest ($156,542 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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