Loan Comparison: 3.08% vs 6.5%
4642 Cassidy, Colorado Springs, CO 80911 · 3bd/2ba · $359,900
List Price
$359,900
Assumable Rate
3.08%
Remaining Balance
$179,382
Equity Gap
$180,517
Loan Type
VAAdjust Your Scenario
$17,995
$17,995$180,517
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 3.08% + gap loan
$2,014/moAssumed loan: $764/mo
Gap financing: $1,250/mo
$147less per month with the assumable
Your Savings on This Property
4642 Cassidy, Colorado Springs · 3.08% VA vs 6.5% conventional
$147
per month
$1,769
per year
$53,055
over 30 years
$53,054
interest saved
How gap financing works: The equity gap ($180,517) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($162,522 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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