Loan Comparison: 5.41% vs 6.5%
9670 Silver Stirrup, Colorado Springs, CO 80925 · 3bd/3ba · $440,000
List Price
$440,000
Assumable Rate
5.41%
Remaining Balance
$413,032
Equity Gap
$27,550
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$27,550
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (VA)
Blended Rate: 5.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 5.41% + gap loan
$2,365/moAssumed loan: $2,322/mo
Gap financing: $43/mo
$277less per month with the assumable
Your Savings on This Property
9670 Silver Stirrup, Colorado Springs · 5.41% VA vs 6.5% conventional
$277
per month
$3,330
per year
$99,896
over 30 years
$100,478
interest saved
How gap financing works: The equity gap ($27,550) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($5,550 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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