Loan Comparison: 5.23% vs 6.5%
6758 Alliance, Colorado Springs, CO 80925 · 5bd/4ba · $549,000
List Price
$549,000
Assumable Rate
5.23%
Remaining Balance
$509,708
Equity Gap
$38,529
Loan Type
VAAdjust Your Scenario
$27,450
$27,450$38,529
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 5.23% + gap loan
$2,894/moAssumed loan: $2,808/mo
Gap financing: $85/mo
$403less per month with the assumable
Your Savings on This Property
6758 Alliance, Colorado Springs · 5.23% VA vs 6.5% conventional
$403
per month
$4,837
per year
$145,097
over 30 years
$144,334
interest saved
How gap financing works: The equity gap ($38,529) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($11,079 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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