Loan Comparison: 5.7% vs 6.5%
3165 Frazier, Colorado Springs, CO 80922 · 3bd/3ba · $479,000
List Price
$479,000
Assumable Rate
5.7%
Remaining Balance
$109,581
Equity Gap
$592,853
Loan Type
VAAdjust Your Scenario
$23,950
$23,950$592,853
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 8.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,876/moAssumable @ 5.7% + gap loan
$5,010/moAssumed loan: $636/mo
Gap financing: $4,374/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 ($592,853) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,950, 5% of purchase price) and a second mortgage for the rest ($568,903 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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