Loan Comparison: 5.22% vs 6.5%
10772 Saco, Colorado Springs, CO 80925 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
5.22%
Remaining Balance
$392,512
Equity Gap
$22,487
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$22,487
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 5.22% + gap loan
$2,174/moAssumed loan: $2,160/mo
Gap financing: $13/mo
$318less per month with the assumable
Your Savings on This Property
10772 Saco, Colorado Springs · 5.22% VA vs 6.5% conventional
$318
per month
$3,821
per year
$114,622
over 30 years
$114,621
interest saved
How gap financing works: The equity gap ($22,487) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($1,737 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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