Loan Comparison: 4.5% vs 6.5%
2822 Valley Hi Avenue, Colorado Springs, CO 80910 · 4bd/2ba · $413,000
List Price
$413,000
Assumable Rate
4.5%
Remaining Balance
$277,866
Equity Gap
$135,134
Loan Type
VAAdjust Your Scenario
$20,650
$20,650$135,134
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.5% (VA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,480/moAssumable @ 4.5% + gap loan
$2,208/moAssumed loan: $1,408/mo
Gap financing: $800/mo
$272less per month with the assumable
Your Savings on This Property
2822 Valley Hi Avenue, Colorado Springs · 4.5% VA vs 6.5% conventional
$272
per month
$3,258
per year
$97,749
over 30 years
$97,749
interest saved
How gap financing works: The equity gap ($135,134) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,650, 5% of purchase price) and a second mortgage for the rest ($114,484 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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