Loan Comparison: 4.99% vs 6.5%
204 Byron, Colorado Springs, CO 80910 · 3bd/2ba · $359,900
List Price
$359,900
Assumable Rate
4.99%
Remaining Balance
$81,993
Equity Gap
$277,907
Loan Type
VAAdjust Your Scenario
$17,995
$17,995$277,907
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 7.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 4.99% + gap loan
$2,438/moAssumed loan: $440/mo
Gap financing: $1,998/mo
Your Savings on This Property
204 Byron, Colorado Springs · 4.99% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($277,907) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($259,912 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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