Loan Comparison: 5.09% vs 6.5%
3905 Colony Hills Circle, Colorado Springs, CO 80916 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
5.09%
Remaining Balance
$374,801
Equity Gap
$25,198
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$25,198
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.09% (VA)
Blended Rate: 5.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 5.09% + gap loan
$2,069/moAssumed loan: $2,033/mo
Gap financing: $36/mo
$333less per month with the assumable
Your Savings on This Property
3905 Colony Hills Circle, Colorado Springs · 5.09% VA vs 6.5% conventional
$333
per month
$3,994
per year
$119,820
over 30 years
$119,819
interest saved
How gap financing works: The equity gap ($25,198) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($5,198 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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