Loan Comparison: 4.99% vs 6.5%
10081 Waterton Canyon, Colorado Springs, CO 80924 · 4bd/5ba · $969,000
List Price
$969,000
Assumable Rate
4.99%
Remaining Balance
$791,579
Equity Gap
$172,558
Loan Type
VAAdjust Your Scenario
$48,450
$48,450$172,558
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,819/moAssumable @ 4.99% + gap loan
$5,199/moAssumed loan: $4,245/mo
Gap financing: $954/mo
$620less per month with the assumable
Your Savings on This Property
10081 Waterton Canyon, Colorado Springs · 4.99% VA vs 6.5% conventional
$620
per month
$7,436
per year
$223,088
over 30 years
$218,225
interest saved
How gap financing works: The equity gap ($172,558) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,450, 5% of purchase price) and a second mortgage for the rest ($124,108 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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