Loan Comparison: 4.75% vs 6.5%
13258 Dominus Way, Colorado Springs, CO 80921 · 2bd/3ba · $1,050,000
List Price
$1,050,000
Assumable Rate
4.75%
Remaining Balance
$892,481
Equity Gap
$157,519
Loan Type
VAAdjust Your Scenario
$52,500
$52,500$157,519
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,305/moAssumable @ 4.75% + gap loan
$5,390/moAssumed loan: $4,656/mo
Gap financing: $734/mo
$915less per month with the assumable
Your Savings on This Property
13258 Dominus Way, Colorado Springs · 4.75% VA vs 6.5% conventional
$915
per month
$10,980
per year
$329,388
over 30 years
$329,388
interest saved
How gap financing works: The equity gap ($157,519) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,500, 5% of purchase price) and a second mortgage for the rest ($105,019 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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