Loan Comparison: 4.99% vs 6.5%
10081 Waterton Canyon, Colorado Springs, CO 80924 · 4bd/5ba · $1,050,000
List Price
$1,050,000
Assumable Rate
4.99%
Remaining Balance
$797,644
Equity Gap
$253,558
Loan Type
VAAdjust Your Scenario
$52,500
$52,500$253,558
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,305/moAssumable @ 4.99% + gap loan
$5,823/moAssumed loan: $4,277/mo
Gap financing: $1,546/mo
$482less per month with the assumable
Your Savings on This Property
10081 Waterton Canyon, Colorado Springs · 4.99% VA vs 6.5% conventional
$482
per month
$5,782
per year
$173,471
over 30 years
$174,673
interest saved
How gap financing works: The equity gap ($253,558) 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 ($201,058 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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