Loan Comparison: 4.53% vs 6.5%
6778 Mandan, Colorado Springs, CO 80925 · 5bd/3ba · $370,000
List Price
$370,000
Assumable Rate
4.53%
Remaining Balance
$302,148
Equity Gap
$67,205
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$67,205
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.53% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 4.53% + gap loan
$1,911/moAssumed loan: $1,536/mo
Gap financing: $374/mo
$311less per month with the assumable
Your Savings on This Property
6778 Mandan, Colorado Springs · 4.53% VA vs 6.5% conventional
$311
per month
$3,731
per year
$111,920
over 30 years
$111,273
interest saved
How gap financing works: The equity gap ($67,205) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($48,705 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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