Loan Comparison: 4.93% vs 6.5%
204 Byron Drive, Colorado Springs, CO 80910 · 4bd/2ba · $335,000
List Price
$335,000
Assumable Rate
4.93%
Remaining Balance
$80,374
Equity Gap
$254,625
Loan Type
VAAdjust Your Scenario
$16,750
$16,750$254,625
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.93% (VA)
Blended Rate: 6.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 4.93% + gap loan
$2,091/moAssumed loan: $428/mo
Gap financing: $1,663/mo
Your Savings on This Property
204 Byron Drive, Colorado Springs · 4.93% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($254,625) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($237,875 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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