Loan Comparison: 4.2% vs 6.5%
1410 Union Boulevard, Colorado Springs, CO 80909 · 4bd/2ba · $275,000
List Price
$275,000
Assumable Rate
4.2%
Remaining Balance
$142,966
Equity Gap
$132,034
Loan Type
VAAdjust Your Scenario
$13,750
$13,750$132,034
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (VA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 4.2% + gap loan
$1,526/moAssumed loan: $699/mo
Gap financing: $827/mo
$125less per month with the assumable
Your Savings on This Property
1410 Union Boulevard, Colorado Springs · 4.2% VA vs 6.5% conventional
$125
per month
$1,501
per year
$45,033
over 30 years
$45,033
interest saved
How gap financing works: The equity gap ($132,034) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($118,284 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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