Loan Comparison: 5.84% vs 6.5%
3563 Mission Bay, Colorado Springs, CO 80922 · 3bd/4ba · $539,000
List Price
$539,000
Assumable Rate
5.84%
Remaining Balance
$383,379
Equity Gap
$179,245
Loan Type
VAAdjust Your Scenario
$26,950
$26,950$179,245
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.84% (VA)
Blended Rate: 6.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,237/moAssumable @ 5.84% + gap loan
$3,430/moAssumed loan: $2,259/mo
Gap financing: $1,171/mo
Your Savings on This Property
3563 Mission Bay, Colorado Springs · 5.84% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($179,245) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,950, 5% of purchase price) and a second mortgage for the rest ($152,295 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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