Loan Comparison: 4.04% vs 6.5%
264 Pecan Garden, Colorado Springs, CO 80904 · 3bd/3ba · $317,500
List Price
$317,500
Assumable Rate
4.04%
Remaining Balance
$103,521
Equity Gap
$213,673
Loan Type
VAAdjust Your Scenario
$15,875
$15,875$213,673
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.04% (VA)
Blended Rate: 6.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,906/moAssumable @ 4.04% + gap loan
$2,018/moAssumed loan: $497/mo
Gap financing: $1,521/mo
Your Savings on This Property
264 Pecan Garden, Colorado Springs · 4.04% 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 ($213,673) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,875, 5% of purchase price) and a second mortgage for the rest ($197,798 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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