Loan Comparison: 4.17% vs 6.5%
642 Valjean Place, Colorado Springs, CO 80906 · 4bd/1ba · $350,000
List Price
$350,000
Assumable Rate
4.17%
Remaining Balance
$115,558
Equity Gap
$234,442
Loan Type
VAAdjust Your Scenario
$17,500
$17,500$234,442
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 4.17% + gap loan
$2,080/moAssumed loan: $563/mo
Gap financing: $1,517/mo
$22less per month with the assumable
Your Savings on This Property
642 Valjean Place, Colorado Springs · 4.17% VA vs 6.5% conventional
$22
per month
$260
per year
$7,797
over 30 years
$7,797
interest saved
How gap financing works: The equity gap ($234,442) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($216,942 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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