Loan Comparison: 4.2% vs 6.5%
9794 Wishbone Way, Colorado Springs, CO 80925 · 5bd/4ba · $539,900
List Price
$539,900
Assumable Rate
4.2%
Remaining Balance
$352,670
Equity Gap
$187,230
Loan Type
VAAdjust Your Scenario
$26,995
$26,995$187,230
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (VA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,242/moAssumable @ 4.2% + gap loan
$2,845/moAssumed loan: $1,725/mo
Gap financing: $1,120/mo
$397less per month with the assumable
Your Savings on This Property
9794 Wishbone Way, Colorado Springs · 4.2% VA vs 6.5% conventional
$397
per month
$4,763
per year
$142,886
over 30 years
$142,886
interest saved
How gap financing works: The equity gap ($187,230) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,995, 5% of purchase price) and a second mortgage for the rest ($160,235 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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