Loan Comparison: 4.48% vs 6.5%
35 Ravenglass, Colorado Springs, CO 80906 · 5bd/3ba · $899,999
List Price
$899,999
Assumable Rate
4.48%
Remaining Balance
$752,050
Equity Gap
$142,887
Loan Type
VAAdjust Your Scenario
$45,000
$45,000$142,887
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.48% (VA)
Blended Rate: 4.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,404/moAssumable @ 4.48% + gap loan
$4,554/moAssumed loan: $3,802/mo
Gap financing: $753/mo
$850less per month with the assumable
Your Savings on This Property
35 Ravenglass, Colorado Springs · 4.48% VA vs 6.5% conventional
$850
per month
$10,199
per year
$305,969
over 30 years
$300,907
interest saved
How gap financing works: The equity gap ($142,887) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,000, 5% of purchase price) and a second mortgage for the rest ($97,887 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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