Loan Comparison: 5.23% vs 6.5%
2385 Spring Blossom, Colorado Springs, CO 80910 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
5.23%
Remaining Balance
$386,972
Equity Gap
$37,462
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$37,462
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 5.23% + gap loan
$2,257/moAssumed loan: $2,132/mo
Gap financing: $125/mo
$295less per month with the assumable
Your Savings on This Property
2385 Spring Blossom, Colorado Springs · 5.23% VA vs 6.5% conventional
$295
per month
$3,543
per year
$106,285
over 30 years
$105,719
interest saved
How gap financing works: The equity gap ($37,462) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($16,212 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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