Loan Comparison: 5.68% vs 6.5%
6775 Goldfield, Colorado Springs, CO 80911 · 3bd/2ba · $324,900
List Price
$324,900
Assumable Rate
5.68%
Remaining Balance
$280,000
Equity Gap
$57,683
Loan Type
VAAdjust Your Scenario
$16,245
$16,245$57,683
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.68% (VA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,951/moAssumable @ 5.68% + gap loan
$1,940/moAssumed loan: $1,622/mo
Gap financing: $319/mo
$11less per month with the assumable
Your Savings on This Property
6775 Goldfield, Colorado Springs · 5.68% VA vs 6.5% conventional
$11
per month
$129
per year
$3,857
over 30 years
$16,640
interest saved
How gap financing works: The equity gap ($57,683) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,245, 5% of purchase price) and a second mortgage for the rest ($41,438 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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