Loan Comparison: 4.41% vs 6.5%
7048 Ketchum Drive, Colorado Springs, CO 80911 · 4bd/3ba · $439,000
List Price
$439,000
Assumable Rate
4.41%
Remaining Balance
$224,006
Equity Gap
$214,994
Loan Type
VAAdjust Your Scenario
$21,950
$21,950$214,994
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.41% (VA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 4.41% + gap loan
$2,473/moAssumed loan: $1,123/mo
Gap financing: $1,350/mo
$163less per month with the assumable
Your Savings on This Property
7048 Ketchum Drive, Colorado Springs · 4.41% VA vs 6.5% conventional
$163
per month
$1,958
per year
$58,748
over 30 years
$58,748
interest saved
How gap financing works: The equity gap ($214,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($193,044 at 7.5%). 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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