Loan Comparison: 4.17% vs 6.5%
1523 Saratoga, Colorado Springs, CO 80910 · 5bd/2ba · $425,000
List Price
$425,000
Assumable Rate
4.17%
Remaining Balance
$396,716
Equity Gap
$28,976
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$28,976
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 4.17% + gap loan
$1,992/moAssumed loan: $1,933/mo
Gap financing: $59/mo
$559less per month with the assumable
Your Savings on This Property
1523 Saratoga, Colorado Springs · 4.17% VA vs 6.5% conventional
$559
per month
$6,714
per year
$201,420
over 30 years
$202,112
interest saved
How gap financing works: The equity gap ($28,976) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($7,726 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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