Loan Comparison: 5.41% vs 6.5%
3402 Springnite, Colorado Springs, CO 80916 · 4bd/1ba · $324,000
List Price
$324,000
Assumable Rate
5.41%
Remaining Balance
$295,695
Equity Gap
$28,304
Loan Type
VAAdjust Your Scenario
$16,200
$16,200$28,304
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,946/moAssumable @ 5.41% + gap loan
$1,755/moAssumed loan: $1,662/mo
Gap financing: $93/mo
$190less per month with the assumable
Your Savings on This Property
3402 Springnite, Colorado Springs · 5.41% VA vs 6.5% conventional
$190
per month
$2,282
per year
$68,462
over 30 years
$68,461
interest saved
How gap financing works: The equity gap ($28,304) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,200, 5% of purchase price) and a second mortgage for the rest ($12,104 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.
🏠
Back to This Listing
View photos, details, and request a showing for 3402 Springnite.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.