Loan Comparison: 3.82% vs 6.5%
4107 Shelley Avenue, Colorado Springs, CO 80910 · 5bd/4ba · $389,000
List Price
$389,000
Assumable Rate
3.82%
Remaining Balance
$121,216
Equity Gap
$267,783
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$267,783
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.82% (VA)
Blended Rate: 6.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 3.82% + gap loan
$2,303/moAssumed loan: $566/mo
Gap financing: $1,736/mo
$33less per month with the assumable
Your Savings on This Property
4107 Shelley Avenue, Colorado Springs · 3.82% VA vs 6.5% conventional
$33
per month
$399
per year
$11,963
over 30 years
$11,962
interest saved
How gap financing works: The equity gap ($267,783) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($248,333 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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