Loan Comparison: 5.62% vs 6.5%
13753 Windy Oaks, Colorado Springs, CO 80921 · 4bd/3ba · $790,000
List Price
$790,000
Assumable Rate
5.62%
Remaining Balance
$687,474
Equity Gap
$103,279
Loan Type
VAAdjust Your Scenario
$39,500
$39,500$103,279
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.62% (VA)
Blended Rate: 5.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,744/moAssumable @ 5.62% + gap loan
$4,446/moAssumed loan: $3,955/mo
Gap financing: $490/mo
$298less per month with the assumable
Your Savings on This Property
13753 Windy Oaks, Colorado Springs · 5.62% VA vs 6.5% conventional
$298
per month
$3,575
per year
$107,261
over 30 years
$108,014
interest saved
How gap financing works: The equity gap ($103,279) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,500, 5% of purchase price) and a second mortgage for the rest ($63,779 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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