Loan Comparison: 4.92% vs 6.5%
5915 Gladstone, Colorado Springs, CO 80906 · 5bd/5ba · $1,020,000
List Price
$1,020,000
Assumable Rate
4.92%
Remaining Balance
$899,757
Equity Gap
$121,607
Loan Type
VAAdjust Your Scenario
$51,000
$51,000$121,607
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.92% (VA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,125/moAssumable @ 4.92% + gap loan
$5,329/moAssumed loan: $4,786/mo
Gap financing: $543/mo
$796less per month with the assumable
Your Savings on This Property
5915 Gladstone, Colorado Springs · 4.92% VA vs 6.5% conventional
$796
per month
$9,548
per year
$286,430
over 30 years
$287,794
interest saved
How gap financing works: The equity gap ($121,607) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($51,000, 5% of purchase price) and a second mortgage for the rest ($70,607 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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