Loan Comparison: 4.99% vs 6.5%
514 Coyote Willow, Colorado Springs, CO 80921 · 5bd/4ba · $795,000
List Price
$795,000
Assumable Rate
4.99%
Remaining Balance
$710,773
Equity Gap
$84,227
Loan Type
VAAdjust Your Scenario
$39,750
$39,750$84,227
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,774/moAssumable @ 4.99% + gap loan
$4,153/moAssumed loan: $3,811/mo
Gap financing: $342/mo
$620less per month with the assumable
Your Savings on This Property
514 Coyote Willow, Colorado Springs · 4.99% VA vs 6.5% conventional
$620
per month
$7,446
per year
$223,367
over 30 years
$223,367
interest saved
How gap financing works: The equity gap ($84,227) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,750, 5% of purchase price) and a second mortgage for the rest ($44,477 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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