Loan Comparison: 3.72% vs 6.5%
4825 Halter, Colorado Springs, CO 80922 · 4bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.72%
Remaining Balance
$289,762
Equity Gap
$135,238
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$135,238
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (VA)
Blended Rate: 5.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.72% + gap loan
$2,213/moAssumed loan: $1,337/mo
Gap financing: $876/mo
$339less per month with the assumable
Your Savings on This Property
4825 Halter, Colorado Springs · 3.72% VA vs 6.5% conventional
$339
per month
$4,062
per year
$121,860
over 30 years
$121,860
interest saved
How gap financing works: The equity gap ($135,238) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($113,988 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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