Loan Comparison: 3.35% vs 6.5%
1876 Silver Meadow, Colorado Springs, CO 80951 · 3bd/3ba · $410,000
List Price
$410,000
Assumable Rate
3.35%
Remaining Balance
$113,791
Equity Gap
$296,635
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$296,635
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 7.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 3.35% + gap loan
$2,625/moAssumed loan: $501/mo
Gap financing: $2,123/mo
Your Savings on This Property
1876 Silver Meadow, Colorado Springs · 3.35% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($296,635) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($276,135 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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