Loan Comparison: 4.13% vs 6.5%
2028 St James Drive, Colorado Springs, CO 80910 · 3bd/1ba · $380,000
List Price
$380,000
Assumable Rate
4.13%
Remaining Balance
$172,446
Equity Gap
$207,554
Loan Type
VAAdjust Your Scenario
$19,000
$19,000$207,554
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.13% (VA)
Blended Rate: 5.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 4.13% + gap loan
$2,155/moAssumed loan: $836/mo
Gap financing: $1,318/mo
$127less per month with the assumable
Your Savings on This Property
2028 St James Drive, Colorado Springs · 4.13% VA vs 6.5% conventional
$127
per month
$1,525
per year
$45,759
over 30 years
$45,759
interest saved
How gap financing works: The equity gap ($207,554) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($188,554 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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