Loan Comparison: 3.28% vs 6.5%
7669 Camille, Colorado Springs, CO 80908 · 4bd/4ba · $479,000
List Price
$479,000
Assumable Rate
3.28%
Remaining Balance
$343,313
Equity Gap
$136,468
Loan Type
VAAdjust Your Scenario
$23,950
$23,950$136,468
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.28% (VA)
Blended Rate: 4.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,876/moAssumable @ 3.28% + gap loan
$2,365/moAssumed loan: $1,500/mo
Gap financing: $865/mo
$511less per month with the assumable
Your Savings on This Property
7669 Camille, Colorado Springs · 3.28% VA vs 6.5% conventional
$511
per month
$6,135
per year
$184,061
over 30 years
$184,842
interest saved
How gap financing works: The equity gap ($136,468) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,950, 5% of purchase price) and a second mortgage for the rest ($112,518 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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