Loan Comparison: 5.52% vs 6.5%
4072 Happy Jack, Colorado Springs, CO 80922 · 3bd/4ba · $435,000
List Price
$435,000
Assumable Rate
5.52%
Remaining Balance
$411,712
Equity Gap
$23,288
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$23,288
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (VA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 5.52% + gap loan
$2,355/moAssumed loan: $2,343/mo
Gap financing: $12/mo
$257less per month with the assumable
Your Savings on This Property
4072 Happy Jack, Colorado Springs · 5.52% VA vs 6.5% conventional
$257
per month
$3,088
per year
$92,654
over 30 years
$92,654
interest saved
How gap financing works: The equity gap ($23,288) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($1,538 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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