Loan Comparison: 4.19% vs 6.5%
2544 Sierra Oak, Colorado Springs, CO 80919 · 5bd/3ba · $699,900
List Price
$699,900
Assumable Rate
4.19%
Remaining Balance
$272,825
Equity Gap
$427,075
Loan Type
VAAdjust Your Scenario
$34,995
$34,995$427,075
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.19% (VA)
Blended Rate: 6.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 4.19% + gap loan
$4,347/moAssumed loan: $1,333/mo
Gap financing: $3,015/mo
Your Savings on This Property
2544 Sierra Oak, Colorado Springs · 4.19% 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 ($427,075) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,995, 5% of purchase price) and a second mortgage for the rest ($392,080 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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