Loan Comparison: 4.05% vs 6.5%
7828 February, Colorado Springs, CO 80951 · 5bd/4ba · $489,900
List Price
$489,900
Assumable Rate
4.05%
Remaining Balance
$205,815
Equity Gap
$284,592
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$284,592
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (VA)
Blended Rate: 6.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 4.05% + gap loan
$2,988/moAssumed loan: $989/mo
Gap financing: $2,000/mo
Your Savings on This Property
7828 February, Colorado Springs · 4.05% 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 ($284,592) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($260,097 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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