Loan Comparison: 5.23% vs 6.5%
2396 Klein, Colorado Springs, CO 80951 · 4bd/4ba · $439,900
List Price
$439,900
Assumable Rate
5.23%
Remaining Balance
$396,857
Equity Gap
$42,453
Loan Type
VAAdjust Your Scenario
$21,995
$21,995$42,453
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,641/moAssumable @ 5.23% + gap loan
$2,344/moAssumed loan: $2,187/mo
Gap financing: $157/mo
$298less per month with the assumable
Your Savings on This Property
2396 Klein, Colorado Springs · 5.23% VA vs 6.5% conventional
$298
per month
$3,571
per year
$107,134
over 30 years
$106,544
interest saved
How gap financing works: The equity gap ($42,453) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,995, 5% of purchase price) and a second mortgage for the rest ($20,458 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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