Loan Comparison: 4.9% vs 6.5%
2458 Payne Circle, Colorado Springs, CO 80916 · 4bd/2ba · $300,000
List Price
$300,000
Assumable Rate
4.9%
Remaining Balance
$71,077
Equity Gap
$228,923
Loan Type
VAAdjust Your Scenario
$15,000
$15,000$228,923
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.9% (VA)
Blended Rate: 6.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4.9% + gap loan
$1,873/moAssumed loan: $377/mo
Gap financing: $1,496/mo
Your Savings on This Property
2458 Payne Circle, Colorado Springs · 4.9% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($228,923) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($213,923 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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