Loan Comparison: 4.08% vs 6.5%
17766 SAWMILL, Colorado Springs, CO 80908 · 5bd/4ba · $998,000
List Price
$998,000
Assumable Rate
4.08%
Remaining Balance
$482,385
Equity Gap
$512,084
Loan Type
VAAdjust Your Scenario
$49,900
$49,900$512,084
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.08% (VA)
Blended Rate: 6.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,993/moAssumable @ 4.08% + gap loan
$5,879/moAssumed loan: $2,325/mo
Gap financing: $3,554/mo
$114less per month with the assumable
Your Savings on This Property
17766 SAWMILL, Colorado Springs · 4.08% VA vs 6.5% conventional
$114
per month
$1,363
per year
$40,881
over 30 years
$37,350
interest saved
How gap financing works: The equity gap ($512,084) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,900, 5% of purchase price) and a second mortgage for the rest ($462,184 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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