Loan Comparison: 5.51% vs 6.5%
13896 Windy Oaks Road, Colorado Springs, CO 80921 · 3bd/3ba · $915,000
List Price
$915,000
Assumable Rate
5.51%
Remaining Balance
$705,617
Equity Gap
$209,383
Loan Type
VAAdjust Your Scenario
$45,750
$45,750$209,383
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.51% (VA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,494/moAssumable @ 5.51% + gap loan
$5,155/moAssumed loan: $4,011/mo
Gap financing: $1,144/mo
$339less per month with the assumable
Your Savings on This Property
13896 Windy Oaks Road, Colorado Springs · 5.51% VA vs 6.5% conventional
$339
per month
$4,071
per year
$122,134
over 30 years
$122,134
interest saved
How gap financing works: The equity gap ($209,383) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,750, 5% of purchase price) and a second mortgage for the rest ($163,633 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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