Loan Comparison: 3.29% vs 6.5%
2712 Arlington, Colorado Springs, CO 80910 · 4bd/3ba · $358,999
List Price
$358,999
Assumable Rate
3.29%
Remaining Balance
$248,137
Equity Gap
$110,862
Loan Type
VAAdjust Your Scenario
$17,950
$17,950$110,862
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.29% (VA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,156/moAssumable @ 3.29% + gap loan
$1,800/moAssumed loan: $1,085/mo
Gap financing: $714/mo
$356less per month with the assumable
Your Savings on This Property
2712 Arlington, Colorado Springs · 3.29% VA vs 6.5% conventional
$356
per month
$4,271
per year
$128,119
over 30 years
$128,119
interest saved
How gap financing works: The equity gap ($110,862) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,950, 5% of purchase price) and a second mortgage for the rest ($92,912 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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