Loan Comparison: 4.17% vs 6.5%
4674 Peak Crest, Colorado Springs, CO 80918 · 4bd/4ba · $599,900
List Price
$599,900
Assumable Rate
4.17%
Remaining Balance
$481,571
Equity Gap
$117,474
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$117,474
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 4.17% + gap loan
$3,019/moAssumed loan: $2,347/mo
Gap financing: $673/mo
$583less per month with the assumable
Your Savings on This Property
4674 Peak Crest, Colorado Springs · 4.17% VA vs 6.5% conventional
$583
per month
$6,996
per year
$209,883
over 30 years
$209,028
interest saved
How gap financing works: The equity gap ($117,474) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($87,479 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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