Loan Comparison: 5.3% vs 6.5%
833 Dirksland, Colorado Springs, CO 80907 · 3bd/2ba · $455,000
List Price
$455,000
Assumable Rate
5.3%
Remaining Balance
$408,367
Equity Gap
$46,028
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$46,028
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.3% (VA)
Blended Rate: 5.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 5.3% + gap loan
$2,447/moAssumed loan: $2,268/mo
Gap financing: $179/mo
$285less per month with the assumable
Your Savings on This Property
833 Dirksland, Colorado Springs · 5.3% VA vs 6.5% conventional
$285
per month
$3,425
per year
$102,760
over 30 years
$102,155
interest saved
How gap financing works: The equity gap ($46,028) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($23,278 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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