Loan Comparison: 3.04% vs 6.5%
9322 Cut Bank, Colorado Springs, CO 80908 · 4bd/4ba · $690,000
List Price
$690,000
Assumable Rate
3.04%
Remaining Balance
$432,828
Equity Gap
$258,138
Loan Type
VAAdjust Your Scenario
$34,500
$34,500$258,138
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,143/moAssumable @ 3.04% + gap loan
$3,554/moAssumed loan: $1,834/mo
Gap financing: $1,720/mo
$589less per month with the assumable
Your Savings on This Property
9322 Cut Bank, Colorado Springs · 3.04% VA vs 6.5% conventional
$589
per month
$7,073
per year
$212,203
over 30 years
$213,169
interest saved
How gap financing works: The equity gap ($258,138) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,500, 5% of purchase price) and a second mortgage for the rest ($223,638 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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