Loan Comparison: 6.36% vs 6.5%
5769 Thurless Lane, Colorado Springs, CO 80927 · 4bd/3ba · $384,900
List Price
$384,900
Assumable Rate
6.36%
Remaining Balance
$322,283
Equity Gap
$62,617
Loan Type
VAAdjust Your Scenario
$19,245
$19,245$62,617
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.36% (VA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,311/moAssumable @ 6.36% + gap loan
$2,311/moAssumed loan: $2,007/mo
Gap financing: $303/mo
$0less per month with the assumable
Your Savings on This Property
5769 Thurless Lane, Colorado Springs · 6.36% VA vs 6.5% conventional
$0
per month
$6
per year
$165
over 30 years
$165
interest saved
How gap financing works: The equity gap ($62,617) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,245, 5% of purchase price) and a second mortgage for the rest ($43,372 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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