Loan Comparison: 4.98% vs 6.5%
7851 Lathrop, Colorado Springs, CO 80924 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
4.98%
Remaining Balance
$463,547
Equity Gap
$36,452
Loan Type
VAAdjust Your Scenario
$25,000
$25,000$36,452
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 4.98% + gap loan
$2,571/moAssumed loan: $2,483/mo
Gap financing: $88/mo
$432less per month with the assumable
Your Savings on This Property
7851 Lathrop, Colorado Springs · 4.98% VA vs 6.5% conventional
$432
per month
$5,178
per year
$155,343
over 30 years
$155,342
interest saved
How gap financing works: The equity gap ($36,452) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($11,452 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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