Loan Comparison: 4.03% vs 6.5%
4118 Heathmoor, Colorado Springs, CO 80922 · 4bd/4ba · $465,000
List Price
$465,000
Assumable Rate
4.03%
Remaining Balance
$274,977
Equity Gap
$189,372
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$189,372
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (VA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 4.03% + gap loan
$2,595/moAssumed loan: $1,318/mo
Gap financing: $1,277/mo
$197less per month with the assumable
Your Savings on This Property
4118 Heathmoor, Colorado Springs · 4.03% VA vs 6.5% conventional
$197
per month
$2,367
per year
$71,022
over 30 years
$70,371
interest saved
How gap financing works: The equity gap ($189,372) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($166,122 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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