Loan Comparison: 5.84% vs 6.5%
2528 Willow Glen, Colorado Springs, CO 80920 · 4bd/4ba · $900,000
List Price
$900,000
Assumable Rate
5.84%
Remaining Balance
$816,122
Equity Gap
$83,877
Loan Type
VAAdjust Your Scenario
$45,000
$45,000$83,877
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.84% (VA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,404/moAssumable @ 5.84% + gap loan
$5,108/moAssumed loan: $4,809/mo
Gap financing: $299/mo
$296less per month with the assumable
Your Savings on This Property
2528 Willow Glen, Colorado Springs · 5.84% VA vs 6.5% conventional
$296
per month
$3,550
per year
$106,496
over 30 years
$106,495
interest saved
How gap financing works: The equity gap ($83,877) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,000, 5% of purchase price) and a second mortgage for the rest ($38,877 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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