Loan Comparison: 5.7% vs 6.5%
15663 Wildwood, Colorado Springs, CO 80921 · 3bd/3ba · $975,000
List Price
$975,000
Assumable Rate
5.7%
Remaining Balance
$827,258
Equity Gap
$147,742
Loan Type
VAAdjust Your Scenario
$48,750
$48,750$147,742
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,855/moAssumable @ 5.7% + gap loan
$5,563/moAssumed loan: $4,801/mo
Gap financing: $761/mo
$292less per month with the assumable
Your Savings on This Property
15663 Wildwood, Colorado Springs · 5.7% VA vs 6.5% conventional
$292
per month
$3,503
per year
$105,105
over 30 years
$105,105
interest saved
How gap financing works: The equity gap ($147,742) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,750, 5% of purchase price) and a second mortgage for the rest ($98,992 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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