Loan Comparison: 4.03% vs 6.5%
4118 Heathmoor Drive, Colorado Springs, CO 80922 · 5bd/3ba · $455,000
List Price
$455,000
Assumable Rate
4.03%
Remaining Balance
$273,013
Equity Gap
$181,987
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$181,987
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (VA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 4.03% + gap loan
$2,422/moAssumed loan: $1,308/mo
Gap financing: $1,113/mo
$311less per month with the assumable
Your Savings on This Property
4118 Heathmoor Drive, Colorado Springs · 4.03% VA vs 6.5% conventional
$311
per month
$3,727
per year
$111,807
over 30 years
$111,807
interest saved
How gap financing works: The equity gap ($181,987) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($159,237 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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