Loan Comparison: 5.41% vs 6.5%
1445 Crippen, Colorado Springs, CO 80916 · 4bd/2ba · $369,500
List Price
$369,500
Assumable Rate
5.41%
Remaining Balance
$329,960
Equity Gap
$39,540
Loan Type
VAAdjust Your Scenario
$18,475
$18,475$39,540
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,219/moAssumable @ 5.41% + gap loan
$2,017/moAssumed loan: $1,855/mo
Gap financing: $162/mo
$202less per month with the assumable
Your Savings on This Property
1445 Crippen, Colorado Springs · 5.41% VA vs 6.5% conventional
$202
per month
$2,422
per year
$72,669
over 30 years
$72,669
interest saved
How gap financing works: The equity gap ($39,540) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,475, 5% of purchase price) and a second mortgage for the rest ($21,065 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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