Loan Comparison: 5.23% vs 6.5%
9233 Bugaboo, Colorado Springs, CO 80924 · 3bd/2ba · $525,000
List Price
$525,000
Assumable Rate
5.23%
Remaining Balance
$433,179
Equity Gap
$91,170
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$91,170
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 5.23% + gap loan
$2,886/moAssumed loan: $2,387/mo
Gap financing: $499/mo
$267less per month with the assumable
Your Savings on This Property
9233 Bugaboo, Colorado Springs · 5.23% VA vs 6.5% conventional
$267
per month
$3,199
per year
$95,974
over 30 years
$95,323
interest saved
How gap financing works: The equity gap ($91,170) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($64,920 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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