Loan Comparison: 5.54% vs 6.5%
4974 Janga, Colorado Springs, CO 80924 · 4bd/3ba · $599,000
List Price
$599,000
Assumable Rate
5.54%
Remaining Balance
$548,562
Equity Gap
$80,901
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$80,901
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.54% (VA)
Blended Rate: 5.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 5.54% + gap loan
$3,520/moAssumed loan: $3,128/mo
Gap financing: $392/mo
$77less per month with the assumable
Your Savings on This Property
4974 Janga, Colorado Springs · 5.54% VA vs 6.5% conventional
$77
per month
$919
per year
$27,561
over 30 years
$58,024
interest saved
How gap financing works: The equity gap ($80,901) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($50,951 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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