Loan Comparison: 4.33% vs 6.5%
8372 Wilmington, Colorado Springs, CO 80920 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
4.33%
Remaining Balance
$238,845
Equity Gap
$221,155
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$221,155
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.33% (VA)
Blended Rate: 6.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 4.33% + gap loan
$2,710/moAssumed loan: $1,186/mo
Gap financing: $1,524/mo
$52less per month with the assumable
Your Savings on This Property
8372 Wilmington, Colorado Springs · 4.33% VA vs 6.5% conventional
$52
per month
$628
per year
$18,832
over 30 years
$18,832
interest saved
How gap financing works: The equity gap ($221,155) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($198,155 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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