Loan Comparison: 5.7% vs 6.5%
3165 Frazier, Colorado Springs, CO 80922 · 3bd/3ba · $465,000
List Price
$465,000
Assumable Rate
5.7%
Remaining Balance
$130,933
Equity Gap
$571,789
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$571,789
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 7.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 5.7% + gap loan
$4,978/moAssumed loan: $760/mo
Gap financing: $4,218/mo
Your Savings on This Property
3165 Frazier, Colorado Springs · 5.7% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($571,789) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($548,539 at 8.5%). 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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