Loan Comparison: 4.49% vs 6.5%
7160 Red Cardinal, Colorado Springs, CO 80908 · 5bd/4ba · $545,000
List Price
$545,000
Assumable Rate
4.49%
Remaining Balance
$207,443
Equity Gap
$337,557
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$337,557
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.49% (VA)
Blended Rate: 6.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 4.49% + gap loan
$3,436/moAssumed loan: $1,050/mo
Gap financing: $2,386/mo
Your Savings on This Property
7160 Red Cardinal, Colorado Springs · 4.49% 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 ($337,557) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($310,307 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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