Loan Comparison: 5.52% vs 6.5%
9960 San Luis Park, Colorado Springs, CO 80924 · 5bd/4ba · $825,000
List Price
$825,000
Assumable Rate
5.52%
Remaining Balance
$568,404
Equity Gap
$256,596
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$256,596
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 5.52% + gap loan
$4,890/moAssumed loan: $3,234/mo
Gap financing: $1,656/mo
$64less per month with the assumable
Your Savings on This Property
9960 San Luis Park, Colorado Springs · 5.52% VA vs 6.5% conventional
$64
per month
$762
per year
$22,873
over 30 years
$22,873
interest saved
How gap financing works: The equity gap ($256,596) 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 ($215,346 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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