Loan Comparison: 5.27% vs 6.5%
2280 Cabernet Court, Colorado Springs, CO 80921 · 3bd/3ba · $1,175,000
List Price
$1,175,000
Assumable Rate
5.27%
Remaining Balance
$945,035
Equity Gap
$229,965
Loan Type
VAAdjust Your Scenario
$58,750
$58,750$229,965
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.27% (VA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,055/moAssumable @ 5.27% + gap loan
$6,427/moAssumed loan: $5,230/mo
Gap financing: $1,197/mo
$628less per month with the assumable
Your Savings on This Property
2280 Cabernet Court, Colorado Springs · 5.27% VA vs 6.5% conventional
$628
per month
$7,537
per year
$226,105
over 30 years
$226,105
interest saved
How gap financing works: The equity gap ($229,965) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($58,750, 5% of purchase price) and a second mortgage for the rest ($171,215 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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