Loan Comparison: 4.07% vs 6.5%
363 Gold Claim Terrace, Colorado Springs, CO 80905 · 2bd/2ba · $685,000
List Price
$685,000
Assumable Rate
4.07%
Remaining Balance
$352,635
Equity Gap
$332,365
Loan Type
VAAdjust Your Scenario
$34,250
$34,250$332,365
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (VA)
Blended Rate: 5.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 4.07% + gap loan
$3,782/moAssumed loan: $1,698/mo
Gap financing: $2,084/mo
$331less per month with the assumable
Your Savings on This Property
363 Gold Claim Terrace, Colorado Springs · 4.07% VA vs 6.5% conventional
$331
per month
$3,971
per year
$119,133
over 30 years
$119,133
interest saved
How gap financing works: The equity gap ($332,365) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($298,115 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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