Loan Comparison: 3.23% vs 6.5%
3456 Heather Glen, Colorado Springs, CO 80922 · 5bd/4ba · $549,500
List Price
$549,500
Assumable Rate
3.23%
Remaining Balance
$258,729
Equity Gap
$290,771
Loan Type
VAAdjust Your Scenario
$27,475
$27,475$290,771
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 5.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,300/moAssumable @ 3.23% + gap loan
$3,148/moAssumed loan: $1,123/mo
Gap financing: $2,025/mo
$152less per month with the assumable
Your Savings on This Property
3456 Heather Glen, Colorado Springs · 3.23% VA vs 6.5% conventional
$152
per month
$1,822
per year
$54,672
over 30 years
$54,672
interest saved
How gap financing works: The equity gap ($290,771) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,475, 5% of purchase price) and a second mortgage for the rest ($263,296 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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