Loan Comparison: 5.22% vs 6.5%
3590 Rocky Knoll Drive, Colorado Springs, CO 80920 · 5bd/2ba · $540,000
List Price
$540,000
Assumable Rate
5.22%
Remaining Balance
$492,130
Equity Gap
$47,869
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$47,869
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 5.22% + gap loan
$2,854/moAssumed loan: $2,708/mo
Gap financing: $146/mo
$388less per month with the assumable
Your Savings on This Property
3590 Rocky Knoll Drive, Colorado Springs · 5.22% VA vs 6.5% conventional
$388
per month
$4,658
per year
$139,740
over 30 years
$139,739
interest saved
How gap financing works: The equity gap ($47,869) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($20,869 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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