Loan Comparison: 5.23% vs 6.5%
1418 Osgood, Colorado Springs, CO 80915 · 4bd/3ba · $460,000
List Price
$460,000
Assumable Rate
5.23%
Remaining Balance
$387,396
Equity Gap
$72,037
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$72,037
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 5.23% + gap loan
$2,511/moAssumed loan: $2,134/mo
Gap financing: $377/mo
$251less per month with the assumable
Your Savings on This Property
1418 Osgood, Colorado Springs · 5.23% VA vs 6.5% conventional
$251
per month
$3,008
per year
$90,240
over 30 years
$89,673
interest saved
How gap financing works: The equity gap ($72,037) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($49,037 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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