Loan Comparison: 3.06% vs 6.5%
2314 Monument, Colorado Springs, CO 80909 · 0bd/0ba · $315,000
List Price
$315,000
Assumable Rate
3.06%
Remaining Balance
$289,261
Equity Gap
$25,739
Loan Type
VAAdjust Your Scenario
$15,750
$15,750$25,739
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 3.06% + gap loan
$1,306/moAssumed loan: $1,229/mo
Gap financing: $77/mo
$586less per month with the assumable
Your Savings on This Property
2314 Monument, Colorado Springs · 3.06% VA vs 6.5% conventional
$586
per month
$7,029
per year
$210,867
over 30 years
$210,867
interest saved
How gap financing works: The equity gap ($25,739) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($9,989 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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