Loan Comparison: 4.99% vs 6.5%
16915 Cherry Crossing, Colorado Springs, CO 80921 · 6bd/4ba · $1,165,000
List Price
$1,165,000
Assumable Rate
4.99%
Remaining Balance
$802,588
Equity Gap
$361,172
Loan Type
VAAdjust Your Scenario
$58,250
$58,250$361,172
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,995/moAssumable @ 4.99% + gap loan
$6,633/moAssumed loan: $4,304/mo
Gap financing: $2,329/mo
$363less per month with the assumable
Your Savings on This Property
16915 Cherry Crossing, Colorado Springs · 4.99% VA vs 6.5% conventional
$363
per month
$4,352
per year
$130,551
over 30 years
$129,311
interest saved
How gap financing works: The equity gap ($361,172) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($58,250, 5% of purchase price) and a second mortgage for the rest ($302,922 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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