Loan Comparison: 4.15% vs 6.5%
9364 Berrey, Colorado Springs, CO 80925 · 4bd/4ba · $429,900
List Price
$429,900
Assumable Rate
4.15%
Remaining Balance
$205,095
Equity Gap
$261,564
Loan Type
VAAdjust Your Scenario
$21,495
$21,495$261,564
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.15% (VA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 4.15% + gap loan
$2,843/moAssumed loan: $997/mo
Gap financing: $1,846/mo
Your Savings on This Property
9364 Berrey, Colorado Springs · 4.15% 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 ($261,564) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($240,069 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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