Loan Comparison: 4.17% vs 6.5%
5169 Fennel, Colorado Springs, CO 80911 · 4bd/3ba · $482,000
List Price
$482,000
Assumable Rate
4.17%
Remaining Balance
$429,068
Equity Gap
$52,932
Loan Type
VAAdjust Your Scenario
$24,100
$24,100$52,932
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,894/moAssumable @ 4.17% + gap loan
$2,312/moAssumed loan: $2,091/mo
Gap financing: $222/mo
$582less per month with the assumable
Your Savings on This Property
5169 Fennel, Colorado Springs · 4.17% VA vs 6.5% conventional
$582
per month
$6,982
per year
$209,461
over 30 years
$209,461
interest saved
How gap financing works: The equity gap ($52,932) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,100, 5% of purchase price) and a second mortgage for the rest ($28,832 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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