Loan Comparison: 4.98% vs 6.5%
8252 Brigantine, Colorado Springs, CO 80920 · 4bd/4ba · $499,900
List Price
$499,900
Assumable Rate
4.98%
Remaining Balance
$359,384
Equity Gap
$140,516
Loan Type
VAAdjust Your Scenario
$24,995
$24,995$140,516
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 4.98% + gap loan
$2,813/moAssumed loan: $1,925/mo
Gap financing: $888/mo
$189less per month with the assumable
Your Savings on This Property
8252 Brigantine, Colorado Springs · 4.98% VA vs 6.5% conventional
$189
per month
$2,263
per year
$67,898
over 30 years
$67,898
interest saved
How gap financing works: The equity gap ($140,516) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($115,521 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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