Loan Comparison: 5.84% vs 6.5%
3563 Mission Bay Court, Colorado Springs, CO 80922 · 4bd/3ba · $539,000
List Price
$539,000
Assumable Rate
5.84%
Remaining Balance
$358,303
Equity Gap
$180,697
Loan Type
VAAdjust Your Scenario
$26,950
$26,950$180,697
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.84% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,237/moAssumable @ 5.84% + gap loan
$3,187/moAssumed loan: $2,111/mo
Gap financing: $1,075/mo
$50less per month with the assumable
Your Savings on This Property
3563 Mission Bay Court, Colorado Springs · 5.84% VA vs 6.5% conventional
$50
per month
$600
per year
$17,998
over 30 years
$17,998
interest saved
How gap financing works: The equity gap ($180,697) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,950, 5% of purchase price) and a second mortgage for the rest ($153,747 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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