Loan Comparison: 4% vs 6.5%
4011 Pikes Peak Avenue, Colorado Springs, CO 80909 · 4bd/3ba · $320,000
List Price
$320,000
Assumable Rate
4%
Remaining Balance
$276,524
Equity Gap
$43,475
Loan Type
VAAdjust Your Scenario
$16,000
$16,000$43,475
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 4% + gap loan
$1,512/moAssumed loan: $1,320/mo
Gap financing: $192/mo
$409less per month with the assumable
Your Savings on This Property
4011 Pikes Peak Avenue, Colorado Springs · 4% VA vs 6.5% conventional
$409
per month
$4,911
per year
$147,316
over 30 years
$147,315
interest saved
How gap financing works: The equity gap ($43,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($27,475 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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