Loan Comparison: 3.68% vs 6.5%
4958 Hawk Meadow Drive, Colorado Springs, CO 80916 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.68%
Remaining Balance
$116,201
Equity Gap
$298,799
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$298,799
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.68% (VA)
Blended Rate: 6.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.68% + gap loan
$2,478/moAssumed loan: $534/mo
Gap financing: $1,944/mo
$14less per month with the assumable
Your Savings on This Property
4958 Hawk Meadow Drive, Colorado Springs · 3.68% VA vs 6.5% conventional
$14
per month
$171
per year
$5,123
over 30 years
$5,123
interest saved
How gap financing works: The equity gap ($298,799) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($278,049 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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