Loan Comparison: 3.92% vs 6.5%
2080 Poteae, Colorado Springs, CO 80915 · 3bd/2ba · $374,900
List Price
$374,900
Assumable Rate
3.92%
Remaining Balance
$288,993
Equity Gap
$109,803
Loan Type
VAAdjust Your Scenario
$18,745
$18,745$109,803
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.92% (VA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,251/moAssumable @ 3.92% + gap loan
$2,067/moAssumed loan: $1,366/mo
Gap financing: $700/mo
$185less per month with the assumable
Your Savings on This Property
2080 Poteae, Colorado Springs · 3.92% VA vs 6.5% conventional
$185
per month
$2,215
per year
$66,450
over 30 years
$90,346
interest saved
How gap financing works: The equity gap ($109,803) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,745, 5% of purchase price) and a second mortgage for the rest ($91,058 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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