Loan Comparison: 4.99% vs 6.5%
514 Coyote Willow, Colorado Springs, CO 80921 · 5bd/4ba · $749,900
List Price
$749,900
Assumable Rate
4.99%
Remaining Balance
$706,459
Equity Gap
$39,127
Loan Type
VAAdjust Your Scenario
$37,495
$37,495$39,127
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 4.99% + gap loan
$3,801/moAssumed loan: $3,788/mo
Gap financing: $13/mo
$702less per month with the assumable
Your Savings on This Property
514 Coyote Willow, Colorado Springs · 4.99% VA vs 6.5% conventional
$702
per month
$8,427
per year
$252,802
over 30 years
$248,488
interest saved
How gap financing works: The equity gap ($39,127) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,495, 5% of purchase price) and a second mortgage for the rest ($1,632 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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