Loan Comparison: 4.75% vs 6.5%
1130 Charismatic, Colorado Springs, CO 80921 · 4bd/4ba · $775,000
List Price
$775,000
Assumable Rate
4.75%
Remaining Balance
$616,660
Equity Gap
$158,340
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$158,340
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 4.75% + gap loan
$4,136/moAssumed loan: $3,217/mo
Gap financing: $920/mo
$517less per month with the assumable
Your Savings on This Property
1130 Charismatic, Colorado Springs · 4.75% VA vs 6.5% conventional
$517
per month
$6,207
per year
$186,216
over 30 years
$186,216
interest saved
How gap financing works: The equity gap ($158,340) 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 ($119,590 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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