Loan Comparison: 3.45% vs 6.5%
1719 Wooten, Colorado Springs, CO 80915 · 4bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.45%
Remaining Balance
$342,273
Equity Gap
$82,727
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$82,727
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.45% + gap loan
$2,000/moAssumed loan: $1,527/mo
Gap financing: $473/mo
$552less per month with the assumable
Your Savings on This Property
1719 Wooten, Colorado Springs · 3.45% VA vs 6.5% conventional
$552
per month
$6,622
per year
$198,665
over 30 years
$198,665
interest saved
How gap financing works: The equity gap ($82,727) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($61,477 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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