Loan Comparison: 5.52% vs 6.5%
7654 Sun Shimmer, Colorado Springs, CO 80908 · 4bd/4ba · $489,000
List Price
$489,000
Assumable Rate
5.52%
Remaining Balance
$459,542
Equity Gap
$29,458
Loan Type
VAAdjust Your Scenario
$24,450
$24,450$29,458
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (VA)
Blended Rate: 5.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,936/moAssumable @ 5.52% + gap loan
$2,654/moAssumed loan: $2,615/mo
Gap financing: $39/mo
$283less per month with the assumable
Your Savings on This Property
7654 Sun Shimmer, Colorado Springs · 5.52% VA vs 6.5% conventional
$283
per month
$3,393
per year
$101,796
over 30 years
$101,796
interest saved
How gap financing works: The equity gap ($29,458) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,450, 5% of purchase price) and a second mortgage for the rest ($5,008 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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