Loan Comparison: 5.22% vs 6.5%
4405 Allesandro, Colorado Springs, CO 80916 · 3bd/2ba · $389,900
List Price
$389,900
Assumable Rate
5.22%
Remaining Balance
$333,353
Equity Gap
$56,547
Loan Type
VAAdjust Your Scenario
$19,495
$19,495$56,547
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,341/moAssumable @ 5.22% + gap loan
$2,119/moAssumed loan: $1,835/mo
Gap financing: $285/mo
$222less per month with the assumable
Your Savings on This Property
4405 Allesandro, Colorado Springs · 5.22% VA vs 6.5% conventional
$222
per month
$2,661
per year
$79,818
over 30 years
$79,818
interest saved
How gap financing works: The equity gap ($56,547) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,495, 5% of purchase price) and a second mortgage for the rest ($37,052 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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