Loan Comparison: 3.38% vs 6.5%
9155 Lizard Rock, Colorado Springs, CO 80924 · 6bd/4ba · $765,000
List Price
$765,000
Assumable Rate
3.38%
Remaining Balance
$265,186
Equity Gap
$500,797
Loan Type
VAAdjust Your Scenario
$38,250
$38,250$500,797
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.38% (VA)
Blended Rate: 6.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,594/moAssumable @ 3.38% + gap loan
$4,730/moAssumed loan: $1,173/mo
Gap financing: $3,557/mo
Your Savings on This Property
9155 Lizard Rock, Colorado Springs · 3.38% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($500,797) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,250, 5% of purchase price) and a second mortgage for the rest ($462,547 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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