Loan Comparison: 4.6% vs 6.5%
432 Rockrimmon Boulevard, Colorado Springs, CO 80919 · 4bd/3ba · $269,900
List Price
$269,900
Assumable Rate
4.6%
Remaining Balance
$129,980
Equity Gap
$139,919
Loan Type
VAAdjust Your Scenario
$13,495
$13,495$139,919
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.6% (VA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 4.6% + gap loan
$1,550/moAssumed loan: $666/mo
Gap financing: $884/mo
$70less per month with the assumable
Your Savings on This Property
432 Rockrimmon Boulevard, Colorado Springs · 4.6% VA vs 6.5% conventional
$70
per month
$844
per year
$25,324
over 30 years
$25,323
interest saved
How gap financing works: The equity gap ($139,919) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,495, 5% of purchase price) and a second mortgage for the rest ($126,424 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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