Loan Comparison: 4.18% vs 6.5%
4208 Notch, Colorado Springs, CO 80924 · 5bd/4ba · $750,000
List Price
$750,000
Assumable Rate
4.18%
Remaining Balance
$513,922
Equity Gap
$324,502
Loan Type
VAAdjust Your Scenario
$37,500
$37,500$324,502
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.18% (VA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 4.18% + gap loan
$4,714/moAssumed loan: $2,507/mo
Gap financing: $2,207/mo
Your Savings on This Property
4208 Notch, Colorado Springs · 4.18% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$12,650
interest saved
How gap financing works: The equity gap ($324,502) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($287,002 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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