Loan Comparison: 5.41% vs 6.5%
7854 Antigua, Colorado Springs, CO 80920 · 2bd/2ba · $475,000
List Price
$475,000
Assumable Rate
5.41%
Remaining Balance
$440,084
Equity Gap
$34,916
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$34,916
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 5.41% + gap loan
$2,560/moAssumed loan: $2,474/mo
Gap financing: $86/mo
$292less per month with the assumable
Your Savings on This Property
7854 Antigua, Colorado Springs · 5.41% VA vs 6.5% conventional
$292
per month
$3,509
per year
$105,262
over 30 years
$105,262
interest saved
How gap financing works: The equity gap ($34,916) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($11,166 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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