Loan Comparison: 4.98% vs 6.5%
3084 Maverick, Colorado Springs, CO 80918 · 4bd/2ba · $430,000
List Price
$430,000
Assumable Rate
4.98%
Remaining Balance
$290,015
Equity Gap
$139,985
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$139,985
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 4.98% + gap loan
$2,464/moAssumed loan: $1,553/mo
Gap financing: $911/mo
$118less per month with the assumable
Your Savings on This Property
3084 Maverick, Colorado Springs · 4.98% VA vs 6.5% conventional
$118
per month
$1,412
per year
$42,347
over 30 years
$42,347
interest saved
How gap financing works: The equity gap ($139,985) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($118,485 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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