Loan Comparison: 4.72% vs 6.5%
5354 Blair View, Colorado Springs, CO 80916 · 3bd/2ba · $340,000
List Price
$340,000
Assumable Rate
4.72%
Remaining Balance
$316,284
Equity Gap
$23,715
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$23,715
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.72% (VA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 4.72% + gap loan
$1,691/moAssumed loan: $1,644/mo
Gap financing: $47/mo
$350less per month with the assumable
Your Savings on This Property
5354 Blair View, Colorado Springs · 4.72% VA vs 6.5% conventional
$350
per month
$4,205
per year
$126,164
over 30 years
$126,163
interest saved
How gap financing works: The equity gap ($23,715) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($6,715 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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