Loan Comparison: 4.99% vs 6.5%
514 Coyote Willow, Colorado Springs, CO 80921 · 5bd/4ba · $775,000
List Price
$775,000
Assumable Rate
4.99%
Remaining Balance
$708,625
Equity Gap
$64,227
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$64,227
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 4.99% + gap loan
$3,996/moAssumed loan: $3,800/mo
Gap financing: $196/mo
$658less per month with the assumable
Your Savings on This Property
514 Coyote Willow, Colorado Springs · 4.99% VA vs 6.5% conventional
$658
per month
$7,896
per year
$236,874
over 30 years
$234,726
interest saved
How gap financing works: The equity gap ($64,227) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($25,477 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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