Loan Comparison: 3.64% vs 6.5%
6045 Griffin, Colorado Springs, CO 80924 · 4bd/3ba · $750,000
List Price
$750,000
Assumable Rate
3.64%
Remaining Balance
$425,728
Equity Gap
$324,271
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$324,271
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (VA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3.64% + gap loan
$4,150/moAssumed loan: $1,945/mo
Gap financing: $2,205/mo
$353less per month with the assumable
Your Savings on This Property
6045 Griffin, Colorado Springs · 3.64% VA vs 6.5% conventional
$353
per month
$4,240
per year
$127,199
over 30 years
$127,198
interest saved
How gap financing works: The equity gap ($324,271) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($286,771 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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