Loan Comparison: 4.75% vs 6.5%
17364 Pond View, Colorado Springs, CO 80908 · 5bd/4ba · $1,350,000
List Price
$1,350,000
Assumable Rate
4.75%
Remaining Balance
$1,051,679
Equity Gap
$298,321
Loan Type
VAAdjust Your Scenario
$67,500
$67,500$298,321
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$8,106/moAssumable @ 4.75% + gap loan
$7,261/moAssumed loan: $5,486/mo
Gap financing: $1,775/mo
$845less per month with the assumable
Your Savings on This Property
17364 Pond View, Colorado Springs · 4.75% VA vs 6.5% conventional
$845
per month
$10,145
per year
$304,345
over 30 years
$304,345
interest saved
How gap financing works: The equity gap ($298,321) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($67,500, 5% of purchase price) and a second mortgage for the rest ($230,821 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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