Loan Comparison: 4.17% vs 6.5%
9234 Gallery, Colorado Springs, CO 80924 · 4bd/5ba · $999,999
List Price
$999,999
Assumable Rate
4.17%
Remaining Balance
$593,319
Equity Gap
$404,588
Loan Type
VAAdjust Your Scenario
$50,000
$50,000$404,588
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 5.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,005/moAssumable @ 4.17% + gap loan
$5,618/moAssumed loan: $2,891/mo
Gap financing: $2,726/mo
$387less per month with the assumable
Your Savings on This Property
9234 Gallery, Colorado Springs · 4.17% VA vs 6.5% conventional
$387
per month
$4,645
per year
$139,361
over 30 years
$137,269
interest saved
How gap financing works: The equity gap ($404,588) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($50,000, 5% of purchase price) and a second mortgage for the rest ($354,588 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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