Loan Comparison: 5.3% vs 6.5%
1112 Auburn Drive, Colorado Springs, CO 80909 · 3bd/3ba · $549,900
List Price
$549,900
Assumable Rate
5.3%
Remaining Balance
$418,745
Equity Gap
$131,154
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$131,154
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.3% (VA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 5.3% + gap loan
$3,050/moAssumed loan: $2,325/mo
Gap financing: $725/mo
$252less per month with the assumable
Your Savings on This Property
1112 Auburn Drive, Colorado Springs · 5.3% VA vs 6.5% conventional
$252
per month
$3,022
per year
$90,664
over 30 years
$90,663
interest saved
How gap financing works: The equity gap ($131,154) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($103,659 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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