Loan Comparison: 4.99% vs 6.5%
16915 Cherry Crossing, Colorado Springs, CO 80921 · 6bd/4ba · $1,199,000
List Price
$1,199,000
Assumable Rate
4.99%
Remaining Balance
$854,622
Equity Gap
$385,435
Loan Type
VAAdjust Your Scenario
$59,950
$59,950$385,435
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,200/moAssumable @ 4.99% + gap loan
$7,085/moAssumed loan: $4,583/mo
Gap financing: $2,503/mo
$114less per month with the assumable
Your Savings on This Property
16915 Cherry Crossing, Colorado Springs · 4.99% VA vs 6.5% conventional
$114
per month
$1,372
per year
$41,148
over 30 years
$82,205
interest saved
How gap financing works: The equity gap ($385,435) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,950, 5% of purchase price) and a second mortgage for the rest ($325,485 at 8.5%). 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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