Loan Comparison: 4% vs 6.5%
7447 Peachleaf Drive, Colorado Springs, CO 80925 · 4bd/2ba · $580,000
List Price
$580,000
Assumable Rate
4%
Remaining Balance
$533,627
Equity Gap
$46,372
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$46,372
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 4% + gap loan
$2,669/moAssumed loan: $2,548/mo
Gap financing: $121/mo
$814less per month with the assumable
Your Savings on This Property
7447 Peachleaf Drive, Colorado Springs · 4% VA vs 6.5% conventional
$814
per month
$9,763
per year
$292,900
over 30 years
$292,899
interest saved
How gap financing works: The equity gap ($46,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($17,372 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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