Loan Comparison: 5.22% vs 6.5%
9585 Ghost Flower, Colorado Springs, CO 80925 · 3bd/3ba · $475,000
List Price
$475,000
Assumable Rate
5.22%
Remaining Balance
$422,923
Equity Gap
$52,076
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$52,076
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 5.22% + gap loan
$2,545/moAssumed loan: $2,328/mo
Gap financing: $218/mo
$307less per month with the assumable
Your Savings on This Property
9585 Ghost Flower, Colorado Springs · 5.22% VA vs 6.5% conventional
$307
per month
$3,682
per year
$110,470
over 30 years
$110,469
interest saved
How gap financing works: The equity gap ($52,076) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($28,326 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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