Loan Comparison: 3.69% vs 6.5%
629 Hackberry, Colorado Springs, CO 80911 · 3bd/2ba · $385,000
List Price
$385,000
Assumable Rate
3.69%
Remaining Balance
$388,740
Equity Gap
$29,571
Loan Type
VAAdjust Your Scenario
$19,250
$19,250$29,571
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (VA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 3.69% + gap loan
$1,866/moAssumed loan: $1,787/mo
Gap financing: $79/mo
$445less per month with the assumable
Your Savings on This Property
629 Hackberry, Colorado Springs · 3.69% VA vs 6.5% conventional
$445
per month
$5,344
per year
$160,316
over 30 years
$193,627
interest saved
How gap financing works: The equity gap ($29,571) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($10,321 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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