Loan Comparison: 4.46% vs 6.5%
2925 Muleshoe Drive, Colorado Springs, CO 80922 · 3bd/3ba · $350,000
List Price
$350,000
Assumable Rate
4.46%
Remaining Balance
$155,525
Equity Gap
$194,475
Loan Type
VAAdjust Your Scenario
$17,500
$17,500$194,475
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.46% (VA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 4.46% + gap loan
$2,022/moAssumed loan: $784/mo
Gap financing: $1,237/mo
$80less per month with the assumable
Your Savings on This Property
2925 Muleshoe Drive, Colorado Springs · 4.46% VA vs 6.5% conventional
$80
per month
$958
per year
$28,750
over 30 years
$28,750
interest saved
How gap financing works: The equity gap ($194,475) 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 ($176,975 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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