Loan Comparison: 4.02% vs 6.5%
527 San Miguel, Colorado Springs, CO 80905 · 3bd/1ba · $395,000
List Price
$395,000
Assumable Rate
4.02%
Remaining Balance
$108,334
Equity Gap
$286,665
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$286,665
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.02% (VA)
Blended Rate: 7.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 4.02% + gap loan
$2,571/moAssumed loan: $518/mo
Gap financing: $2,052/mo
Your Savings on This Property
527 San Miguel, Colorado Springs · 4.02% 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 ($286,665) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($266,915 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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