Loan Comparison: 3.6% vs 6.5%
4883 Painted Sky View, Colorado Springs, CO 80909 · 4bd/2ba · $299,000
List Price
$299,000
Assumable Rate
3.6%
Remaining Balance
$207,980
Equity Gap
$91,020
Loan Type
VAAdjust Your Scenario
$14,950
$14,950$91,020
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 4.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,795/moAssumable @ 3.6% + gap loan
$1,477/moAssumed loan: $946/mo
Gap financing: $532/mo
$318less per month with the assumable
Your Savings on This Property
4883 Painted Sky View, Colorado Springs · 3.6% VA vs 6.5% conventional
$318
per month
$3,815
per year
$114,453
over 30 years
$114,453
interest saved
How gap financing works: The equity gap ($91,020) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,950, 5% of purchase price) and a second mortgage for the rest ($76,070 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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