Loan Comparison: 4.07% vs 6.5%
363 Gold Claim, Colorado Springs, CO 80905 · 5bd/4ba · $699,000
List Price
$699,000
Assumable Rate
4.07%
Remaining Balance
$379,644
Equity Gap
$342,514
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$342,514
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (VA)
Blended Rate: 6.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 4.07% + gap loan
$4,193/moAssumed loan: $1,828/mo
Gap financing: $2,365/mo
$5less per month with the assumable
Your Savings on This Property
363 Gold Claim, Colorado Springs · 4.07% VA vs 6.5% conventional
$5
per month
$54
per year
$1,625
over 30 years
$24,783
interest saved
How gap financing works: The equity gap ($342,514) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($307,564 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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