Loan Comparison: 5.41% vs 6.5%
6427 Marilee, Colorado Springs, CO 80911 · 4bd/3ba · $489,900
List Price
$489,900
Assumable Rate
5.41%
Remaining Balance
$455,474
Equity Gap
$31,856
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$31,856
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 5.41% + gap loan
$2,617/moAssumed loan: $2,560/mo
Gap financing: $57/mo
$325less per month with the assumable
Your Savings on This Property
6427 Marilee, Colorado Springs · 5.41% VA vs 6.5% conventional
$325
per month
$3,895
per year
$116,858
over 30 years
$114,288
interest saved
How gap financing works: The equity gap ($31,856) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($7,361 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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