Loan Comparison: 4.2% vs 6.5%
84 Luxury Lane, Colorado Springs, CO 80921 · 2bd/3ba · $400,000
List Price
$400,000
Assumable Rate
4.2%
Remaining Balance
$299,122
Equity Gap
$100,877
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$100,877
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (VA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4.2% + gap loan
$2,028/moAssumed loan: $1,463/mo
Gap financing: $566/mo
$374less per month with the assumable
Your Savings on This Property
84 Luxury Lane, Colorado Springs · 4.2% VA vs 6.5% conventional
$374
per month
$4,483
per year
$134,495
over 30 years
$134,494
interest saved
How gap financing works: The equity gap ($100,877) 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 ($80,877 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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