Loan Comparison: 3.33% vs 6.5%
5927 John Muir, Colorado Springs, CO 80927 · 3bd/3ba · $395,000
List Price
$395,000
Assumable Rate
3.33%
Remaining Balance
$287,541
Equity Gap
$107,459
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$107,459
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.33% (VA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.33% + gap loan
$1,938/moAssumed loan: $1,264/mo
Gap financing: $674/mo
$433less per month with the assumable
Your Savings on This Property
5927 John Muir, Colorado Springs · 3.33% VA vs 6.5% conventional
$433
per month
$5,200
per year
$156,014
over 30 years
$156,014
interest saved
How gap financing works: The equity gap ($107,459) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($87,709 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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