Loan Comparison: 5.52% vs 6.5%
10104 Emerald Lake, Colorado Springs, CO 80924 · 3bd/3ba · $850,000
List Price
$850,000
Assumable Rate
5.52%
Remaining Balance
$529,991
Equity Gap
$401,886
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$401,886
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (VA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 5.52% + gap loan
$5,779/moAssumed loan: $3,016/mo
Gap financing: $2,763/mo
Your Savings on This Property
10104 Emerald Lake, Colorado Springs · 5.52% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($401,886) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($359,386 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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