Loan Comparison: 4.04% vs 6.5%
4960 Universal Heights, Colorado Springs, CO 80916 · 3bd/2ba · $225,000
List Price
$225,000
Assumable Rate
4.04%
Remaining Balance
$135,367
Equity Gap
$89,633
Loan Type
VAAdjust Your Scenario
$11,250
$11,250$89,633
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.04% (VA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,351/moAssumable @ 4.04% + gap loan
$1,197/moAssumed loan: $649/mo
Gap financing: $548/mo
$154less per month with the assumable
Your Savings on This Property
4960 Universal Heights, Colorado Springs · 4.04% VA vs 6.5% conventional
$154
per month
$1,843
per year
$55,293
over 30 years
$55,293
interest saved
How gap financing works: The equity gap ($89,633) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,250, 5% of purchase price) and a second mortgage for the rest ($78,383 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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