Loan Comparison: 4.92% vs 6.5%
1179 Charismatic, Colorado Springs, CO 80921 · 4bd/3ba · $875,000
List Price
$875,000
Assumable Rate
4.92%
Remaining Balance
$792,218
Equity Gap
$81,551
Loan Type
VAAdjust Your Scenario
$43,750
$43,750$81,551
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.92% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 4.92% + gap loan
$4,505/moAssumed loan: $4,214/mo
Gap financing: $291/mo
$749less per month with the assumable
Your Savings on This Property
1179 Charismatic, Colorado Springs · 4.92% VA vs 6.5% conventional
$749
per month
$8,991
per year
$269,734
over 30 years
$268,503
interest saved
How gap financing works: The equity gap ($81,551) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($37,801 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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