Loan Comparison: 3.76% vs 6.5%
7239 Withers, Colorado Springs, CO 80922 · 5bd/4ba · $539,500
List Price
$539,500
Assumable Rate
3.76%
Remaining Balance
$444,743
Equity Gap
$93,904
Loan Type
VAAdjust Your Scenario
$26,975
$26,975$93,904
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,240/moAssumable @ 3.76% + gap loan
$2,577/moAssumed loan: $2,062/mo
Gap financing: $515/mo
$663less per month with the assumable
Your Savings on This Property
7239 Withers, Colorado Springs · 3.76% VA vs 6.5% conventional
$663
per month
$7,952
per year
$238,565
over 30 years
$237,712
interest saved
How gap financing works: The equity gap ($93,904) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,975, 5% of purchase price) and a second mortgage for the rest ($66,929 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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