Loan Comparison: 5.22% vs 6.5%
6697 Kearsarge, Colorado Springs, CO 80925 · 5bd/4ba · $510,000
List Price
$510,000
Assumable Rate
5.22%
Remaining Balance
$365,850
Equity Gap
$144,150
Loan Type
VAAdjust Your Scenario
$25,500
$25,500$144,150
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 6.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 5.22% + gap loan
$2,926/moAssumed loan: $2,013/mo
Gap financing: $912/mo
$137less per month with the assumable
Your Savings on This Property
6697 Kearsarge, Colorado Springs · 5.22% VA vs 6.5% conventional
$137
per month
$1,639
per year
$49,179
over 30 years
$49,179
interest saved
How gap financing works: The equity gap ($144,150) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($118,650 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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