Loan Comparison: 5.7% vs 6.5%
3895 Shining Star Drive, Colorado Springs, CO 80925 · 4bd/2ba · $439,900
List Price
$439,900
Assumable Rate
5.7%
Remaining Balance
$402,734
Equity Gap
$37,166
Loan Type
VAAdjust Your Scenario
$21,995
$21,995$37,166
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 5.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,641/moAssumable @ 5.7% + gap loan
$2,444/moAssumed loan: $2,337/mo
Gap financing: $106/mo
$198less per month with the assumable
Your Savings on This Property
3895 Shining Star Drive, Colorado Springs · 5.7% VA vs 6.5% conventional
$198
per month
$2,375
per year
$71,243
over 30 years
$71,243
interest saved
How gap financing works: The equity gap ($37,166) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,995, 5% of purchase price) and a second mortgage for the rest ($15,171 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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