Loan Comparison: 4% vs 6.5%
10000 Bison Valley, Colorado Springs, CO 80908 · 5bd/5ba · $899,999
List Price
$899,999
Assumable Rate
4%
Remaining Balance
$416,698
Equity Gap
$515,908
Loan Type
VAAdjust Your Scenario
$45,000
$45,000$515,908
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,404/moAssumable @ 4% + gap loan
$5,610/moAssumed loan: $1,989/mo
Gap financing: $3,621/mo
Your Savings on This Property
10000 Bison Valley, Colorado Springs · 4% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($515,908) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,000, 5% of purchase price) and a second mortgage for the rest ($470,908 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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