Loan Comparison: 5.22% vs 6.5%
9112 Chieftan, Colorado Springs, CO 80925 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
5.22%
Remaining Balance
$381,536
Equity Gap
$32,902
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$32,902
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 5.22% + gap loan
$2,193/moAssumed loan: $2,100/mo
Gap financing: $93/mo
$299less per month with the assumable
Your Savings on This Property
9112 Chieftan, Colorado Springs · 5.22% VA vs 6.5% conventional
$299
per month
$3,585
per year
$107,538
over 30 years
$106,976
interest saved
How gap financing works: The equity gap ($32,902) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($12,152 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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