Loan Comparison: 3.02% vs 6.5%
4163 Brush Creek, Colorado Springs, CO 80916 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.02%
Remaining Balance
$262,264
Equity Gap
$187,736
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$187,736
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.02% + gap loan
$2,379/moAssumed loan: $1,109/mo
Gap financing: $1,271/mo
$323less per month with the assumable
Your Savings on This Property
4163 Brush Creek, Colorado Springs · 3.02% VA vs 6.5% conventional
$323
per month
$3,876
per year
$116,288
over 30 years
$116,288
interest saved
How gap financing works: The equity gap ($187,736) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($165,236 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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