Loan Comparison: 5.52% vs 6.5%
8758 Bellcove, Colorado Springs, CO 80920 · 3bd/3ba · $517,000
List Price
$517,000
Assumable Rate
5.52%
Remaining Balance
$410,512
Equity Gap
$106,488
Loan Type
VAAdjust Your Scenario
$25,850
$25,850$106,488
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (VA)
Blended Rate: 6.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,104/moAssumable @ 5.52% + gap loan
$2,956/moAssumed loan: $2,336/mo
Gap financing: $620/mo
$148less per month with the assumable
Your Savings on This Property
8758 Bellcove, Colorado Springs · 5.52% VA vs 6.5% conventional
$148
per month
$1,780
per year
$53,413
over 30 years
$53,413
interest saved
How gap financing works: The equity gap ($106,488) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,850, 5% of purchase price) and a second mortgage for the rest ($80,638 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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