Loan Comparison: 5.78% vs 6.5%
4725 Wineskin Circle, Colorado Springs, CO 80916 · 2bd/2ba · $346,000
List Price
$346,000
Assumable Rate
5.78%
Remaining Balance
$305,648
Equity Gap
$40,351
Loan Type
VAAdjust Your Scenario
$17,300
$17,300$40,351
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.78% (VA)
Blended Rate: 5.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,078/moAssumable @ 5.78% + gap loan
$1,951/moAssumed loan: $1,790/mo
Gap financing: $161/mo
$127less per month with the assumable
Your Savings on This Property
4725 Wineskin Circle, Colorado Springs · 5.78% VA vs 6.5% conventional
$127
per month
$1,523
per year
$45,693
over 30 years
$45,692
interest saved
How gap financing works: The equity gap ($40,351) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,300, 5% of purchase price) and a second mortgage for the rest ($23,051 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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