Loan Comparison: 5.23% vs 6.5%
4375 Cassidy, Colorado Springs, CO 80911 · 4bd/2ba · $389,900
List Price
$389,900
Assumable Rate
5.23%
Remaining Balance
$364,086
Equity Gap
$25,813
Loan Type
VAAdjust Your Scenario
$19,495
$19,495$25,813
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,341/moAssumable @ 5.23% + gap loan
$2,055/moAssumed loan: $2,006/mo
Gap financing: $49/mo
$287less per month with the assumable
Your Savings on This Property
4375 Cassidy, Colorado Springs · 5.23% VA vs 6.5% conventional
$287
per month
$3,440
per year
$103,191
over 30 years
$103,190
interest saved
How gap financing works: The equity gap ($25,813) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,495, 5% of purchase price) and a second mortgage for the rest ($6,318 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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