Loan Comparison: 5.41% vs 6.5%
906 Bowser, Colorado Springs, CO 80909 · 4bd/2ba · $369,900
List Price
$369,900
Assumable Rate
5.41%
Remaining Balance
$347,432
Equity Gap
$22,467
Loan Type
VAAdjust Your Scenario
$18,495
$18,495$22,467
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 5.41% + gap loan
$1,984/moAssumed loan: $1,953/mo
Gap financing: $31/mo
$237less per month with the assumable
Your Savings on This Property
906 Bowser, Colorado Springs · 5.41% VA vs 6.5% conventional
$237
per month
$2,850
per year
$85,489
over 30 years
$85,488
interest saved
How gap financing works: The equity gap ($22,467) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($3,972 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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