Loan Comparison: 5.13% vs 6.5%
10237 Abrams Drive, Colorado Springs, CO 80925 · 3bd/4ba · $550,000
List Price
$550,000
Assumable Rate
5.13%
Remaining Balance
$509,937
Equity Gap
$40,063
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$40,063
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.13% (VA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 5.13% + gap loan
$2,866/moAssumed loan: $2,778/mo
Gap financing: $88/mo
$437less per month with the assumable
Your Savings on This Property
10237 Abrams Drive, Colorado Springs · 5.13% VA vs 6.5% conventional
$437
per month
$5,239
per year
$157,177
over 30 years
$157,177
interest saved
How gap financing works: The equity gap ($40,063) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($12,563 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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