Loan Comparison: 4% vs 6.5%
5577 Sunrise Mesa, Colorado Springs, CO 80924 · 3bd/3ba · $575,000
List Price
$575,000
Assumable Rate
4%
Remaining Balance
$560,803
Equity Gap
$45,959
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$45,959
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 4% + gap loan
$2,810/moAssumed loan: $2,677/mo
Gap financing: $132/mo
$643less per month with the assumable
Your Savings on This Property
5577 Sunrise Mesa, Colorado Springs · 4% VA vs 6.5% conventional
$643
per month
$7,716
per year
$231,476
over 30 years
$263,238
interest saved
How gap financing works: The equity gap ($45,959) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($17,209 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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