Loan Comparison: 4.72% vs 6.5%
10615 Outfit Drive, Colorado Springs, CO 80925 · 4bd/3ba · $555,000
List Price
$555,000
Assumable Rate
4.72%
Remaining Balance
$513,888
Equity Gap
$41,112
Loan Type
VAAdjust Your Scenario
$27,750
$27,750$41,112
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.72% (VA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 4.72% + gap loan
$2,765/moAssumed loan: $2,671/mo
Gap financing: $93/mo
$568less per month with the assumable
Your Savings on This Property
10615 Outfit Drive, Colorado Springs · 4.72% VA vs 6.5% conventional
$568
per month
$6,813
per year
$204,390
over 30 years
$204,390
interest saved
How gap financing works: The equity gap ($41,112) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($13,362 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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