Loan Comparison: 4% vs 6.5%
1719 Wooten Road, Colorado Springs, CO 80915 · 4bd/3ba · $400,000
List Price
$400,000
Assumable Rate
4%
Remaining Balance
$343,611
Equity Gap
$56,388
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$56,388
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4% + gap loan
$1,895/moAssumed loan: $1,640/mo
Gap financing: $254/mo
$507less per month with the assumable
Your Savings on This Property
1719 Wooten Road, Colorado Springs · 4% VA vs 6.5% conventional
$507
per month
$6,084
per year
$182,512
over 30 years
$182,511
interest saved
How gap financing works: The equity gap ($56,388) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($36,388 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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