Loan Comparison: 2.74% vs 6.5%
4825 Eldon Drive, Colorado Springs, CO 80916 · 3bd/3ba · $337,000
List Price
$337,000
Assumable Rate
2.74%
Remaining Balance
$206,399
Equity Gap
$130,601
Loan Type
VAAdjust Your Scenario
$16,850
$16,850$130,601
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,024/moAssumable @ 2.74% + gap loan
$1,637/moAssumed loan: $842/mo
Gap financing: $795/mo
$387less per month with the assumable
Your Savings on This Property
4825 Eldon Drive, Colorado Springs · 2.74% VA vs 6.5% conventional
$387
per month
$4,640
per year
$139,208
over 30 years
$139,208
interest saved
How gap financing works: The equity gap ($130,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,850, 5% of purchase price) and a second mortgage for the rest ($113,751 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.
🏠
Back to This Listing
View photos, details, and request a showing for 4825 Eldon Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.