Loan Comparison: 3.89% vs 6.5%
8041 Willowick Court, Colorado Springs, CO 80925 · 5bd/4ba · $495,000
List Price
$495,000
Assumable Rate
3.89%
Remaining Balance
$197,624
Equity Gap
$297,376
Loan Type
VAAdjust Your Scenario
$24,750
$24,750$297,376
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.89% (VA)
Blended Rate: 5.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.89% + gap loan
$2,837/moAssumed loan: $931/mo
Gap financing: $1,906/mo
$135less per month with the assumable
Your Savings on This Property
8041 Willowick Court, Colorado Springs · 3.89% VA vs 6.5% conventional
$135
per month
$1,621
per year
$48,622
over 30 years
$48,622
interest saved
How gap financing works: The equity gap ($297,376) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($272,626 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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