Loan Comparison: 5.41% vs 6.5%
6427 Marilee, Colorado Springs, CO 80911 · 4bd/3ba · $494,900
List Price
$494,900
Assumable Rate
5.41%
Remaining Balance
$456,121
Equity Gap
$38,779
Loan Type
VAAdjust Your Scenario
$24,745
$24,745$38,779
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 5.41% + gap loan
$2,672/moAssumed loan: $2,564/mo
Gap financing: $108/mo
$300less per month with the assumable
Your Savings on This Property
6427 Marilee, Colorado Springs · 5.41% VA vs 6.5% conventional
$300
per month
$3,596
per year
$107,886
over 30 years
$107,886
interest saved
How gap financing works: The equity gap ($38,779) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,745, 5% of purchase price) and a second mortgage for the rest ($14,034 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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