Loan Comparison: 5.7% vs 6.5%
15663 Wildwood, Colorado Springs, CO 80921 · 3bd/3ba · $1,000,000
List Price
$1,000,000
Assumable Rate
5.7%
Remaining Balance
$830,483
Equity Gap
$171,662
Loan Type
VAAdjust Your Scenario
$50,000
$50,000$171,662
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 6.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,005/moAssumable @ 5.7% + gap loan
$5,756/moAssumed loan: $4,820/mo
Gap financing: $935/mo
$249less per month with the assumable
Your Savings on This Property
15663 Wildwood, Colorado Springs · 5.7% VA vs 6.5% conventional
$249
per month
$2,989
per year
$89,656
over 30 years
$91,801
interest saved
How gap financing works: The equity gap ($171,662) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($50,000, 5% of purchase price) and a second mortgage for the rest ($121,662 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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