Loan Comparison: 3.48% vs 6.5%
6860 Conifer Ridge, Colorado Springs, CO 80923 · 6bd/4ba · $470,000
List Price
$470,000
Assumable Rate
3.48%
Remaining Balance
$321,363
Equity Gap
$218,504
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$218,504
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.48% (VA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.48% + gap loan
$2,939/moAssumed loan: $1,439/mo
Gap financing: $1,499/mo
Your Savings on This Property
6860 Conifer Ridge, Colorado Springs · 3.48% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$27,853
interest saved
How gap financing works: The equity gap ($218,504) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($195,004 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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