Loan Comparison: 3.21% vs 6.5%
10657 Hidden Brook, Colorado Springs, CO 80908 · 4bd/3ba · $679,999
List Price
$679,999
Assumable Rate
3.21%
Remaining Balance
$596,829
Equity Gap
$84,408
Loan Type
VAAdjust Your Scenario
$34,000
$34,000$84,408
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.21% (VA)
Blended Rate: 3.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 3.21% + gap loan
$2,972/moAssumed loan: $2,584/mo
Gap financing: $388/mo
$1,111less per month with the assumable
Your Savings on This Property
10657 Hidden Brook, Colorado Springs · 3.21% VA vs 6.5% conventional
$1,111
per month
$13,334
per year
$400,034
over 30 years
$401,272
interest saved
How gap financing works: The equity gap ($84,408) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($50,408 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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