Loan Comparison: 4% vs 6.5%
514 Coyote Willow, Colorado Springs, CO 80921 · 5bd/4ba · $749,900
List Price
$749,900
Assumable Rate
4%
Remaining Balance
$751,100
Equity Gap
$52,504
Loan Type
VAAdjust Your Scenario
$37,495
$37,495$52,504
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 4% + gap loan
$3,701/moAssumed loan: $3,586/mo
Gap financing: $115/mo
$802less per month with the assumable
Your Savings on This Property
514 Coyote Willow, Colorado Springs · 4% VA vs 6.5% conventional
$802
per month
$9,619
per year
$288,580
over 30 years
$342,284
interest saved
How gap financing works: The equity gap ($52,504) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,495, 5% of purchase price) and a second mortgage for the rest ($15,009 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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