Loan Comparison: 3.7% vs 6.5%
6079 Trappers Tale, Colorado Springs, CO 80923 · 4bd/3ba · $662,000
List Price
$662,000
Assumable Rate
3.7%
Remaining Balance
$363,313
Equity Gap
$347,984
Loan Type
VAAdjust Your Scenario
$33,100
$33,100$347,984
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 5.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,975/moAssumable @ 3.7% + gap loan
$4,093/moAssumed loan: $1,672/mo
Gap financing: $2,421/mo
Your Savings on This Property
6079 Trappers Tale, Colorado Springs · 3.7% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$6,681
interest saved
How gap financing works: The equity gap ($347,984) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,100, 5% of purchase price) and a second mortgage for the rest ($314,884 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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