Loan Comparison: 4.98% vs 6.5%
7186 Laurel Cherry, Colorado Springs, CO 80927 · 5bd/4ba · $600,000
List Price
$600,000
Assumable Rate
4.98%
Remaining Balance
$526,718
Equity Gap
$73,282
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$73,282
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 4.98% + gap loan
$3,154/moAssumed loan: $2,821/mo
Gap financing: $333/mo
$449less per month with the assumable
Your Savings on This Property
7186 Laurel Cherry, Colorado Springs · 4.98% VA vs 6.5% conventional
$449
per month
$5,387
per year
$161,599
over 30 years
$161,599
interest saved
How gap financing works: The equity gap ($73,282) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($43,282 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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