Loan Comparison: 4.98% vs 6.5%
9358 Prairie Clover, Colorado Springs, CO 80920 · 5bd/4ba · $650,000
List Price
$650,000
Assumable Rate
4.98%
Remaining Balance
$553,584
Equity Gap
$96,416
Loan Type
VAAdjust Your Scenario
$32,500
$32,500$96,416
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 4.98% + gap loan
$3,456/moAssumed loan: $2,965/mo
Gap financing: $491/mo
$447less per month with the assumable
Your Savings on This Property
9358 Prairie Clover, Colorado Springs · 4.98% VA vs 6.5% conventional
$447
per month
$5,359
per year
$160,764
over 30 years
$160,764
interest saved
How gap financing works: The equity gap ($96,416) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($63,916 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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