Loan Comparison: 4.07% vs 6.5%
505 Cedar, Colorado Springs, CO 80903 · 3bd/1ba · $454,900
List Price
$454,900
Assumable Rate
4.07%
Remaining Balance
$266,740
Equity Gap
$264,025
Loan Type
VAAdjust Your Scenario
$22,745
$22,745$264,025
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (VA)
Blended Rate: 6.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 4.07% + gap loan
$3,139/moAssumed loan: $1,284/mo
Gap financing: $1,855/mo
Your Savings on This Property
505 Cedar, Colorado Springs · 4.07% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($264,025) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,745, 5% of purchase price) and a second mortgage for the rest ($241,280 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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