Loan Comparison: 5.22% vs 6.5%
9670 Silver Stirrup Drive, Colorado Springs, CO 80925 · 4bd/3ba · $440,000
List Price
$440,000
Assumable Rate
5.22%
Remaining Balance
$409,297
Equity Gap
$30,703
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$30,703
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 5.22% + gap loan
$2,313/moAssumed loan: $2,253/mo
Gap financing: $61/mo
$329less per month with the assumable
Your Savings on This Property
9670 Silver Stirrup Drive, Colorado Springs · 5.22% VA vs 6.5% conventional
$329
per month
$3,944
per year
$118,310
over 30 years
$118,310
interest saved
How gap financing works: The equity gap ($30,703) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($8,703 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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