Loan Comparison: 3.33% vs 6.5%
1142 Dancing Horse, Colorado Springs, CO 80919 · 3bd/3ba · $519,000
List Price
$519,000
Assumable Rate
3.33%
Remaining Balance
$331,386
Equity Gap
$183,861
Loan Type
VAAdjust Your Scenario
$25,950
$25,950$183,861
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.33% (VA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,116/moAssumable @ 3.33% + gap loan
$2,671/moAssumed loan: $1,457/mo
Gap financing: $1,214/mo
$445less per month with the assumable
Your Savings on This Property
1142 Dancing Horse, Colorado Springs · 3.33% VA vs 6.5% conventional
$445
per month
$5,345
per year
$160,347
over 30 years
$156,594
interest saved
How gap financing works: The equity gap ($183,861) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,950, 5% of purchase price) and a second mortgage for the rest ($157,911 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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