Loan Comparison: 6.89% vs 6.5%
4850 Windward Circle, Colorado Springs, CO 80917 · 5bd/4ba · $425,000
List Price
$425,000
Assumable Rate
6.89%
Remaining Balance
$402,967
Equity Gap
$22,033
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$22,033
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.89% (VA)
Blended Rate: 6.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 6.89% + gap loan
$2,657/moAssumed loan: $2,651/mo
Gap financing: $5/mo
Your Savings on This Property
4850 Windward Circle, Colorado Springs · 6.89% 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 ($22,033) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($783 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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