Loan Comparison: 3.91% vs 6.5%
4530 Sierra Rica Road, Colorado Springs, CO 80911 · 5bd/4ba · $484,999
List Price
$484,999
Assumable Rate
3.91%
Remaining Balance
$169,048
Equity Gap
$315,951
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$315,951
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (VA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.91% + gap loan
$2,838/moAssumed loan: $798/mo
Gap financing: $2,040/mo
$74less per month with the assumable
Your Savings on This Property
4530 Sierra Rica Road, Colorado Springs · 3.91% VA vs 6.5% conventional
$74
per month
$892
per year
$26,754
over 30 years
$26,754
interest saved
How gap financing works: The equity gap ($315,951) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($291,701 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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