Loan Comparison: 4.17% vs 6.5%
8050 Butterweed, Colorado Springs, CO 80920 · 5bd/4ba · $600,000
List Price
$600,000
Assumable Rate
4.17%
Remaining Balance
$522,032
Equity Gap
$77,046
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$77,046
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 4.17% + gap loan
$2,905/moAssumed loan: $2,544/mo
Gap financing: $362/mo
$697less per month with the assumable
Your Savings on This Property
8050 Butterweed, Colorado Springs · 4.17% VA vs 6.5% conventional
$697
per month
$8,368
per year
$251,046
over 30 years
$250,124
interest saved
How gap financing works: The equity gap ($77,046) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($47,046 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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