Loan Comparison: 5.1% vs 6.5%
35 Ravenglass Way, Colorado Springs, CO 80906 · 3bd/2ba · $899,999
List Price
$899,999
Assumable Rate
5.1%
Remaining Balance
$756,279
Equity Gap
$143,719
Loan Type
VAAdjust Your Scenario
$45,000
$45,000$143,719
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.1% (VA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,404/moAssumable @ 5.1% + gap loan
$4,796/moAssumed loan: $4,106/mo
Gap financing: $690/mo
$608less per month with the assumable
Your Savings on This Property
35 Ravenglass Way, Colorado Springs · 5.1% VA vs 6.5% conventional
$608
per month
$7,292
per year
$218,773
over 30 years
$218,772
interest saved
How gap financing works: The equity gap ($143,719) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,000, 5% of purchase price) and a second mortgage for the rest ($98,719 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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