Loan Comparison: 5.52% vs 6.5%
3952 Coral Point, Colorado Springs, CO 80917 · 4bd/3ba · $410,000
List Price
$410,000
Assumable Rate
5.52%
Remaining Balance
$385,313
Equity Gap
$24,687
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$24,687
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (VA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 5.52% + gap loan
$2,222/moAssumed loan: $2,193/mo
Gap financing: $29/mo
$240less per month with the assumable
Your Savings on This Property
3952 Coral Point, Colorado Springs · 5.52% VA vs 6.5% conventional
$240
per month
$2,880
per year
$86,410
over 30 years
$86,410
interest saved
How gap financing works: The equity gap ($24,687) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($4,187 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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