Loan Comparison: 4.75% vs 6.5%
13258 Dominus, Colorado Springs, CO 80921 · 5bd/5ba · $1,050,000
List Price
$1,050,000
Assumable Rate
4.75%
Remaining Balance
$893,929
Equity Gap
$156,071
Loan Type
VAAdjust Your Scenario
$52,500
$52,500$156,071
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,305/moAssumable @ 4.75% + gap loan
$5,460/moAssumed loan: $4,663/mo
Gap financing: $796/mo
$845less per month with the assumable
Your Savings on This Property
13258 Dominus, Colorado Springs · 4.75% VA vs 6.5% conventional
$845
per month
$10,144
per year
$304,326
over 30 years
$304,326
interest saved
How gap financing works: The equity gap ($156,071) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,500, 5% of purchase price) and a second mortgage for the rest ($103,571 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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