Loan Comparison: 4.17% vs 6.5%
14320 Woodrock, Colorado Springs, CO 80921 · 3bd/3ba · $428,900
List Price
$428,900
Assumable Rate
4.17%
Remaining Balance
$395,696
Equity Gap
$33,204
Loan Type
VAAdjust Your Scenario
$21,445
$21,445$33,204
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,575/moAssumable @ 4.17% + gap loan
$2,019/moAssumed loan: $1,928/mo
Gap financing: $90/mo
$557less per month with the assumable
Your Savings on This Property
14320 Woodrock, Colorado Springs · 4.17% VA vs 6.5% conventional
$557
per month
$6,683
per year
$200,476
over 30 years
$200,476
interest saved
How gap financing works: The equity gap ($33,204) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,445, 5% of purchase price) and a second mortgage for the rest ($11,759 at 8.5%). 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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