Loan Comparison: 4.75% vs 6.5%
1130 Charismatic Way, Colorado Springs, CO 80921 · 5bd/5ba · $768,000
List Price
$768,000
Assumable Rate
4.75%
Remaining Balance
$611,709
Equity Gap
$156,291
Loan Type
VAAdjust Your Scenario
$38,400
$38,400$156,291
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,612/moAssumable @ 4.75% + gap loan
$4,015/moAssumed loan: $3,191/mo
Gap financing: $824/mo
$596less per month with the assumable
Your Savings on This Property
1130 Charismatic Way, Colorado Springs · 4.75% VA vs 6.5% conventional
$596
per month
$7,156
per year
$214,666
over 30 years
$214,666
interest saved
How gap financing works: The equity gap ($156,291) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,400, 5% of purchase price) and a second mortgage for the rest ($117,891 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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