Loan Comparison: 3.6% vs 6.5%
8172 Wheatland, Colorado Springs, CO 80908 · 3bd/4ba · $629,900
List Price
$629,900
Assumable Rate
3.6%
Remaining Balance
$476,183
Equity Gap
$214,631
Loan Type
VAAdjust Your Scenario
$31,495
$31,495$214,631
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 4.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,782/moAssumable @ 3.6% + gap loan
$3,573/moAssumed loan: $2,165/mo
Gap financing: $1,408/mo
$209less per month with the assumable
Your Savings on This Property
8172 Wheatland, Colorado Springs · 3.6% VA vs 6.5% conventional
$209
per month
$2,511
per year
$75,321
over 30 years
$136,235
interest saved
How gap financing works: The equity gap ($214,631) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,495, 5% of purchase price) and a second mortgage for the rest ($183,136 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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