Loan Comparison: 5.41% vs 6.5%
1445 Crippen, Colorado Springs, CO 80916 · 4bd/2ba · $360,000
List Price
$360,000
Assumable Rate
5.41%
Remaining Balance
$329,022
Equity Gap
$30,977
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$30,977
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 5.41% + gap loan
$1,949/moAssumed loan: $1,850/mo
Gap financing: $100/mo
$212less per month with the assumable
Your Savings on This Property
1445 Crippen, Colorado Springs · 5.41% VA vs 6.5% conventional
$212
per month
$2,547
per year
$76,420
over 30 years
$76,419
interest saved
How gap financing works: The equity gap ($30,977) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($12,977 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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