Loan Comparison: 3.07% vs 6.5%
1180 Goodview, Colorado Springs, CO 80911 · 5bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.07%
Remaining Balance
$376,456
Equity Gap
$63,544
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$63,544
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.07% + gap loan
$1,921/moAssumed loan: $1,601/mo
Gap financing: $319/mo
$721less per month with the assumable
Your Savings on This Property
1180 Goodview, Colorado Springs · 3.07% VA vs 6.5% conventional
$721
per month
$8,654
per year
$259,634
over 30 years
$259,634
interest saved
How gap financing works: The equity gap ($63,544) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($41,544 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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