Loan Comparison: 5.23% vs 6.5%
6980 Weeping Willow, Colorado Springs, CO 80925 · 3bd/2ba · $600,000
List Price
$600,000
Assumable Rate
5.23%
Remaining Balance
$461,719
Equity Gap
$138,280
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$138,280
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 5.23% + gap loan
$3,376/moAssumed loan: $2,544/mo
Gap financing: $833/mo
$226less per month with the assumable
Your Savings on This Property
6980 Weeping Willow, Colorado Springs · 5.23% VA vs 6.5% conventional
$226
per month
$2,716
per year
$81,466
over 30 years
$81,465
interest saved
How gap financing works: The equity gap ($138,280) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($108,280 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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