Loan Comparison: 3.68% vs 6.5%
6651 Big Leaf, Colorado Springs, CO 80927 · 4bd/4ba · $545,000
List Price
$545,000
Assumable Rate
3.68%
Remaining Balance
$266,400
Equity Gap
$367,025
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$367,025
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.68% (VA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 3.68% + gap loan
$3,836/moAssumed loan: $1,223/mo
Gap financing: $2,613/mo
Your Savings on This Property
6651 Big Leaf, Colorado Springs · 3.68% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($367,025) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($339,775 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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