Loan Comparison: 3.31% vs 6.5%
5408 Cushing, Colorado Springs, CO 80924 · 3bd/3ba · $355,000
List Price
$355,000
Assumable Rate
3.31%
Remaining Balance
$206,690
Equity Gap
$148,309
Loan Type
VAAdjust Your Scenario
$17,750
$17,750$148,309
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (VA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 3.31% + gap loan
$1,910/moAssumed loan: $906/mo
Gap financing: $1,004/mo
$221less per month with the assumable
Your Savings on This Property
5408 Cushing, Colorado Springs · 3.31% VA vs 6.5% conventional
$221
per month
$2,657
per year
$79,710
over 30 years
$79,709
interest saved
How gap financing works: The equity gap ($148,309) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($130,559 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.
🏠
Back to This Listing
View photos, details, and request a showing for 5408 Cushing.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.