Loan Comparison: 4.98% vs 6.5%
5767 Heathland, Colorado Springs, CO 80917 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
4.98%
Remaining Balance
$354,594
Equity Gap
$95,406
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$95,406
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 4.98% + gap loan
$2,460/moAssumed loan: $1,899/mo
Gap financing: $561/mo
$242less per month with the assumable
Your Savings on This Property
5767 Heathland, Colorado Springs · 4.98% VA vs 6.5% conventional
$242
per month
$2,908
per year
$87,228
over 30 years
$87,228
interest saved
How gap financing works: The equity gap ($95,406) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($72,906 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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