Loan Comparison: 3.06% vs 6.5%
5239 Arroyo, Colorado Springs, CO 80922 · 5bd/4ba · $499,000
List Price
$499,000
Assumable Rate
3.06%
Remaining Balance
$433,449
Equity Gap
$66,510
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$66,510
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (VA)
Blended Rate: 3.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.06% + gap loan
$2,161/moAssumed loan: $1,841/mo
Gap financing: $320/mo
$835less per month with the assumable
Your Savings on This Property
5239 Arroyo, Colorado Springs · 3.06% VA vs 6.5% conventional
$835
per month
$10,023
per year
$300,695
over 30 years
$301,654
interest saved
How gap financing works: The equity gap ($66,510) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($41,560 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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