Loan Comparison: 3.3% vs 6.5%
7215 Rim Bluff, Colorado Springs, CO 80927 · 4bd/4ba · $635,000
List Price
$635,000
Assumable Rate
3.3%
Remaining Balance
$520,182
Equity Gap
$184,278
Loan Type
VAAdjust Your Scenario
$31,750
$31,750$184,278
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.3% (VA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 3.3% + gap loan
$3,451/moAssumed loan: $2,278/mo
Gap financing: $1,173/mo
$362less per month with the assumable
Your Savings on This Property
7215 Rim Bluff, Colorado Springs · 3.3% VA vs 6.5% conventional
$362
per month
$4,344
per year
$130,312
over 30 years
$199,772
interest saved
How gap financing works: The equity gap ($184,278) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($152,528 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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