Loan Comparison: 4% vs 6.5%
4733 Aria Court, Colorado Springs, CO 80906 · 3bd/1ba · $600,000
List Price
$600,000
Assumable Rate
4%
Remaining Balance
$307,551
Equity Gap
$292,448
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$292,448
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 4% + gap loan
$3,303/moAssumed loan: $1,468/mo
Gap financing: $1,835/mo
$299less per month with the assumable
Your Savings on This Property
4733 Aria Court, Colorado Springs · 4% VA vs 6.5% conventional
$299
per month
$3,593
per year
$107,790
over 30 years
$107,789
interest saved
How gap financing works: The equity gap ($292,448) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($262,448 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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