Loan Comparison: 5.5% vs 6.5%
9413 Cut Bank, Colorado Springs, CO 80908 · 5bd/3ba · $719,900
List Price
$719,900
Assumable Rate
5.5%
Remaining Balance
$552,210
Equity Gap
$167,690
Loan Type
VAAdjust Your Scenario
$35,995
$35,995$167,690
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (VA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,323/moAssumable @ 5.5% + gap loan
$4,148/moAssumed loan: $3,135/mo
Gap financing: $1,013/mo
$175less per month with the assumable
Your Savings on This Property
9413 Cut Bank, Colorado Springs · 5.5% VA vs 6.5% conventional
$175
per month
$2,097
per year
$62,905
over 30 years
$62,905
interest saved
How gap financing works: The equity gap ($167,690) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,995, 5% of purchase price) and a second mortgage for the rest ($131,695 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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