Loan Comparison: 3.05% vs 6.5%
125 Larch, Colorado Springs, CO 80911 · 3bd/1ba · $320,000
List Price
$320,000
Assumable Rate
3.05%
Remaining Balance
$300,049
Equity Gap
$19,951
Loan Type
VAAdjust Your Scenario
$16,000
$16,000$19,951
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 3.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 3.05% + gap loan
$1,304/moAssumed loan: $1,273/mo
Gap financing: $30/mo
$618less per month with the assumable
Your Savings on This Property
125 Larch, Colorado Springs · 3.05% VA vs 6.5% conventional
$618
per month
$7,416
per year
$222,474
over 30 years
$222,474
interest saved
How gap financing works: The equity gap ($19,951) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($3,951 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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