Loan Comparison: 3.45% vs 6.5%
11029 Falling Snow, Colorado Springs, CO 80908 · 4bd/3ba · $585,000
List Price
$585,000
Assumable Rate
3.45%
Remaining Balance
$542,671
Equity Gap
$42,328
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$42,328
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.45% + gap loan
$2,522/moAssumed loan: $2,422/mo
Gap financing: $101/mo
$990less per month with the assumable
Your Savings on This Property
11029 Falling Snow, Colorado Springs · 3.45% VA vs 6.5% conventional
$990
per month
$11,885
per year
$356,560
over 30 years
$356,559
interest saved
How gap financing works: The equity gap ($42,328) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($13,078 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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