Loan Comparison: 4.98% vs 6.5%
7797 Wagonwood, Colorado Springs, CO 80908 · 4bd/3ba · $550,000
List Price
$550,000
Assumable Rate
4.98%
Remaining Balance
$586,014
Equity Gap
$100,212
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$100,212
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 4.98% + gap loan
$3,698/moAssumed loan: $3,139/mo
Gap financing: $559/mo
Your Savings on This Property
7797 Wagonwood, Colorado Springs · 4.98% 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 ($100,212) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($72,712 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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