Loan Comparison: 3.05% vs 6.5%
8544 Vanderwood, Colorado Springs, CO 80908 · 3bd/3ba · $485,000
List Price
$485,000
Assumable Rate
3.05%
Remaining Balance
$443,716
Equity Gap
$41,284
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$41,284
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 3.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.05% + gap loan
$2,014/moAssumed loan: $1,883/mo
Gap financing: $131/mo
$899less per month with the assumable
Your Savings on This Property
8544 Vanderwood, Colorado Springs · 3.05% VA vs 6.5% conventional
$899
per month
$10,783
per year
$323,484
over 30 years
$323,484
interest saved
How gap financing works: The equity gap ($41,284) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($17,034 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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