Loan Comparison: 5.84% vs 6.5%
2528 Willow Glen, Colorado Springs, CO 80920 · 4bd/5ba · $975,000
List Price
$975,000
Assumable Rate
5.84%
Remaining Balance
$819,249
Equity Gap
$155,751
Loan Type
VAAdjust Your Scenario
$48,750
$48,750$155,751
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.84% (VA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,855/moAssumable @ 5.84% + gap loan
$5,651/moAssumed loan: $4,828/mo
Gap financing: $823/mo
$204less per month with the assumable
Your Savings on This Property
2528 Willow Glen, Colorado Springs · 5.84% VA vs 6.5% conventional
$204
per month
$2,447
per year
$73,414
over 30 years
$73,414
interest saved
How gap financing works: The equity gap ($155,751) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,750, 5% of purchase price) and a second mortgage for the rest ($107,001 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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