Loan Comparison: 4.75% vs 6.5%
1130 Charismatic, Colorado Springs, CO 80921 · 4bd/4ba · $790,000
List Price
$790,000
Assumable Rate
4.75%
Remaining Balance
$617,639
Equity Gap
$173,340
Loan Type
VAAdjust Your Scenario
$39,500
$39,500$173,340
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,744/moAssumable @ 4.75% + gap loan
$4,251/moAssumed loan: $3,222/mo
Gap financing: $1,029/mo
$493less per month with the assumable
Your Savings on This Property
1130 Charismatic, Colorado Springs · 4.75% VA vs 6.5% conventional
$493
per month
$5,912
per year
$177,357
over 30 years
$178,336
interest saved
How gap financing works: The equity gap ($173,340) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,500, 5% of purchase price) and a second mortgage for the rest ($133,840 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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