Loan Comparison: 4.59% vs 6.5%
3715 Riviera Grove, Colorado Springs, CO 80922 · 4bd/2ba · $230,000
List Price
$230,000
Assumable Rate
4.59%
Remaining Balance
$171,101
Equity Gap
$58,899
Loan Type
VAAdjust Your Scenario
$11,500
$11,500$58,899
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.59% (VA)
Blended Rate: 5.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,381/moAssumable @ 4.59% + gap loan
$1,208/moAssumed loan: $876/mo
Gap financing: $331/mo
$174less per month with the assumable
Your Savings on This Property
3715 Riviera Grove, Colorado Springs · 4.59% VA vs 6.5% conventional
$174
per month
$2,082
per year
$62,471
over 30 years
$62,471
interest saved
How gap financing works: The equity gap ($58,899) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,500, 5% of purchase price) and a second mortgage for the rest ($47,399 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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