Loan Comparison: 4.17% vs 6.5%
9234 Gallery, Colorado Springs, CO 80924 · 4bd/5ba · $1,100,000
List Price
$1,100,000
Assumable Rate
4.17%
Remaining Balance
$595,411
Equity Gap
$504,589
Loan Type
VAAdjust Your Scenario
$55,000
$55,000$504,589
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,605/moAssumable @ 4.17% + gap loan
$6,358/moAssumed loan: $2,901/mo
Gap financing: $3,457/mo
$247less per month with the assumable
Your Savings on This Property
9234 Gallery, Colorado Springs · 4.17% VA vs 6.5% conventional
$247
per month
$2,963
per year
$88,889
over 30 years
$88,889
interest saved
How gap financing works: The equity gap ($504,589) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,000, 5% of purchase price) and a second mortgage for the rest ($449,589 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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