Loan Comparison: 3.45% vs 6.5%
2310 La Salle, Colorado Springs, CO 80909 · 3bd/4ba · $355,000
List Price
$355,000
Assumable Rate
3.45%
Remaining Balance
$316,841
Equity Gap
$37,522
Loan Type
VAAdjust Your Scenario
$17,750
$17,750$37,522
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 3.45% + gap loan
$1,566/moAssumed loan: $1,414/mo
Gap financing: $152/mo
$566less per month with the assumable
Your Savings on This Property
2310 La Salle, Colorado Springs · 3.45% VA vs 6.5% conventional
$566
per month
$6,788
per year
$203,649
over 30 years
$203,012
interest saved
How gap financing works: The equity gap ($37,522) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($19,772 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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