Loan Comparison: 4% vs 6.5%
1015 Timber Valley Road, Colorado Springs, CO 80919 · 4bd/3ba · $1,480,000
List Price
$1,480,000
Assumable Rate
4%
Remaining Balance
$1,191,461
Equity Gap
$288,538
Loan Type
VAAdjust Your Scenario
$74,000
$74,000$288,538
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,887/moAssumable @ 4% + gap loan
$7,188/moAssumed loan: $5,688/mo
Gap financing: $1,500/mo
$1,699less per month with the assumable
Your Savings on This Property
1015 Timber Valley Road, Colorado Springs · 4% VA vs 6.5% conventional
$1,699
per month
$20,383
per year
$611,488
over 30 years
$611,487
interest saved
How gap financing works: The equity gap ($288,538) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($74,000, 5% of purchase price) and a second mortgage for the rest ($214,538 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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