Loan Comparison: 4.99% vs 6.5%
865 Grey Eagle Circle, Colorado Springs, CO 80919 · 4bd/4ba · $575,000
List Price
$575,000
Assumable Rate
4.99%
Remaining Balance
$461,847
Equity Gap
$113,153
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$113,153
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 4.99% + gap loan
$3,067/moAssumed loan: $2,476/mo
Gap financing: $590/mo
$386less per month with the assumable
Your Savings on This Property
865 Grey Eagle Circle, Colorado Springs · 4.99% VA vs 6.5% conventional
$386
per month
$4,632
per year
$138,975
over 30 years
$138,975
interest saved
How gap financing works: The equity gap ($113,153) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($84,403 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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