Loan Comparison: 4.18% vs 6.5%
4208 Notch, Colorado Springs, CO 80924 · 5bd/4ba · $750,000
List Price
$750,000
Assumable Rate
4.18%
Remaining Balance
$426,409
Equity Gap
$323,591
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$323,591
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.18% (VA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 4.18% + gap loan
$4,280/moAssumed loan: $2,080/mo
Gap financing: $2,200/mo
$223less per month with the assumable
Your Savings on This Property
4208 Notch, Colorado Springs · 4.18% VA vs 6.5% conventional
$223
per month
$2,681
per year
$80,443
over 30 years
$80,443
interest saved
How gap financing works: The equity gap ($323,591) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($286,091 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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