Loan Comparison: 4% vs 6.5%
514 Coyote Willow Drive, Colorado Springs, CO 80921 · 4bd/3ba · $735,000
List Price
$735,000
Assumable Rate
4%
Remaining Balance
$696,134
Equity Gap
$38,865
Loan Type
VAAdjust Your Scenario
$36,750
$36,750$38,865
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,413/moAssumable @ 4% + gap loan
$3,338/moAssumed loan: $3,323/mo
Gap financing: $15/mo
$1,075less per month with the assumable
Your Savings on This Property
514 Coyote Willow Drive, Colorado Springs · 4% VA vs 6.5% conventional
$1,075
per month
$12,902
per year
$387,064
over 30 years
$387,063
interest saved
How gap financing works: The equity gap ($38,865) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,750, 5% of purchase price) and a second mortgage for the rest ($2,115 at 7.5%). 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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