Loan Comparison: 5.27% vs 6.5%
2227 Condor Street, Colorado Springs, CO 80909 · 5bd/3ba · $545,000
List Price
$545,000
Assumable Rate
5.27%
Remaining Balance
$477,491
Equity Gap
$67,508
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$67,508
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.27% (VA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 5.27% + gap loan
$2,924/moAssumed loan: $2,643/mo
Gap financing: $281/mo
$348less per month with the assumable
Your Savings on This Property
2227 Condor Street, Colorado Springs · 5.27% VA vs 6.5% conventional
$348
per month
$4,181
per year
$125,424
over 30 years
$125,423
interest saved
How gap financing works: The equity gap ($67,508) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($40,258 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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