Loan Comparison: 5.22% vs 6.5%
10237 Abrams, Colorado Springs, CO 80925 · 4bd/4ba · $550,000
List Price
$550,000
Assumable Rate
5.22%
Remaining Balance
$512,689
Equity Gap
$36,561
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$36,561
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 5.22% + gap loan
$2,891/moAssumed loan: $2,822/mo
Gap financing: $70/mo
$411less per month with the assumable
Your Savings on This Property
10237 Abrams, Colorado Springs · 5.22% VA vs 6.5% conventional
$411
per month
$4,936
per year
$148,074
over 30 years
$147,324
interest saved
How gap financing works: The equity gap ($36,561) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($9,061 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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