Loan Comparison: 3.96% vs 6.5%
5872 Thurless Lane, Colorado Springs, CO 80927 · 3bd/2ba · $394,999
List Price
$394,999
Assumable Rate
3.96%
Remaining Balance
$371,071
Equity Gap
$23,927
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$23,927
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (VA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.96% + gap loan
$1,792/moAssumed loan: $1,763/mo
Gap financing: $29/mo
$580less per month with the assumable
Your Savings on This Property
5872 Thurless Lane, Colorado Springs · 3.96% VA vs 6.5% conventional
$580
per month
$6,955
per year
$208,663
over 30 years
$208,662
interest saved
How gap financing works: The equity gap ($23,927) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($4,177 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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