Loan Comparison: 3.07% vs 6.5%
3780 Riviera, Colorado Springs, CO 80922 · 3bd/2ba · $322,000
List Price
$322,000
Assumable Rate
3.07%
Remaining Balance
$288,623
Equity Gap
$33,377
Loan Type
VAAdjust Your Scenario
$16,100
$16,100$33,377
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,933/moAssumable @ 3.07% + gap loan
$1,361/moAssumed loan: $1,228/mo
Gap financing: $133/mo
$573less per month with the assumable
Your Savings on This Property
3780 Riviera, Colorado Springs · 3.07% VA vs 6.5% conventional
$573
per month
$6,875
per year
$206,237
over 30 years
$206,237
interest saved
How gap financing works: The equity gap ($33,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,100, 5% of purchase price) and a second mortgage for the rest ($17,277 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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