Loan Comparison: 5.25% vs 6.5%
3640 Trailspur Place, Colorado Springs, CO 80906 · 3bd/3ba · $499,000
List Price
$499,000
Assumable Rate
5.25%
Remaining Balance
$374,049
Equity Gap
$124,950
Loan Type
VAAdjust Your Scenario
$24,950
$24,950$124,950
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (VA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 5.25% + gap loan
$2,765/moAssumed loan: $2,066/mo
Gap financing: $699/mo
$232less per month with the assumable
Your Savings on This Property
3640 Trailspur Place, Colorado Springs · 5.25% VA vs 6.5% conventional
$232
per month
$2,779
per year
$83,373
over 30 years
$83,372
interest saved
How gap financing works: The equity gap ($124,950) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($100,000 at 7.5%). 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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