Loan Comparison: 4.98% vs 6.5%
4260 Vicksburg, Colorado Springs, CO 80917 · 3bd/2ba · $415,000
List Price
$415,000
Assumable Rate
4.98%
Remaining Balance
$302,354
Equity Gap
$112,646
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$112,646
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 4.98% + gap loan
$2,326/moAssumed loan: $1,619/mo
Gap financing: $707/mo
$166less per month with the assumable
Your Savings on This Property
4260 Vicksburg, Colorado Springs · 4.98% VA vs 6.5% conventional
$166
per month
$1,991
per year
$59,731
over 30 years
$59,731
interest saved
How gap financing works: The equity gap ($112,646) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($91,896 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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