Loan Comparison: 5.7% vs 6.5%
9710 Brassie, Colorado Springs, CO 80920 · 4bd/4ba · $900,000
List Price
$900,000
Assumable Rate
5.7%
Remaining Balance
$767,015
Equity Gap
$132,985
Loan Type
VAAdjust Your Scenario
$45,000
$45,000$132,985
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 5.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,404/moAssumable @ 5.7% + gap loan
$5,128/moAssumed loan: $4,452/mo
Gap financing: $677/mo
$276less per month with the assumable
Your Savings on This Property
9710 Brassie, Colorado Springs · 5.7% VA vs 6.5% conventional
$276
per month
$3,311
per year
$99,322
over 30 years
$99,322
interest saved
How gap financing works: The equity gap ($132,985) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,000, 5% of purchase price) and a second mortgage for the rest ($87,985 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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