Loan Comparison: 5.22% vs 6.5%
3721 Hermosa Creek, Colorado Springs, CO 80924 · 5bd/3ba · $825,000
List Price
$825,000
Assumable Rate
5.22%
Remaining Balance
$344,632
Equity Gap
$480,368
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$480,368
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 7.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 5.22% + gap loan
$5,273/moAssumed loan: $1,897/mo
Gap financing: $3,376/mo
Your Savings on This Property
3721 Hermosa Creek, Colorado Springs · 5.22% 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 ($480,368) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($439,118 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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