Loan Comparison: 5.81% vs 6.5%
2455 Veneto Way, Colorado Springs, CO 80921 · 4bd/3ba · $679,000
List Price
$679,000
Assumable Rate
5.81%
Remaining Balance
$465,309
Equity Gap
$213,691
Loan Type
VAAdjust Your Scenario
$33,950
$33,950$213,691
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.81% (VA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,077/moAssumable @ 5.81% + gap loan
$3,990/moAssumed loan: $2,733/mo
Gap financing: $1,257/mo
$87less per month with the assumable
Your Savings on This Property
2455 Veneto Way, Colorado Springs · 5.81% VA vs 6.5% conventional
$87
per month
$1,046
per year
$31,392
over 30 years
$31,392
interest saved
How gap financing works: The equity gap ($213,691) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,950, 5% of purchase price) and a second mortgage for the rest ($179,741 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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