Loan Comparison: 4.75% vs 6.5%
13258 Dominus, Colorado Springs, CO 80921 · 5bd/5ba · $1,125,000
List Price
$1,125,000
Assumable Rate
4.75%
Remaining Balance
$899,665
Equity Gap
$225,335
Loan Type
VAAdjust Your Scenario
$56,250
$56,250$225,335
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,755/moAssumable @ 4.75% + gap loan
$5,993/moAssumed loan: $4,693/mo
Gap financing: $1,300/mo
$762less per month with the assumable
Your Savings on This Property
13258 Dominus, Colorado Springs · 4.75% VA vs 6.5% conventional
$762
per month
$9,144
per year
$274,331
over 30 years
$274,331
interest saved
How gap financing works: The equity gap ($225,335) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($56,250, 5% of purchase price) and a second mortgage for the rest ($169,085 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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