Loan Comparison: 5.23% vs 6.5%
3640 Trailspur, Colorado Springs, CO 80906 · 3bd/3ba · $515,000
List Price
$515,000
Assumable Rate
5.23%
Remaining Balance
$375,658
Equity Gap
$138,784
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$138,784
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 5.23% + gap loan
$2,939/moAssumed loan: $2,070/mo
Gap financing: $869/mo
$154less per month with the assumable
Your Savings on This Property
3640 Trailspur, Colorado Springs · 5.23% VA vs 6.5% conventional
$154
per month
$1,842
per year
$55,265
over 30 years
$54,707
interest saved
How gap financing works: The equity gap ($138,784) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($113,034 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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