Loan Comparison: 4.48% vs 6.5%
4173 Captain Jack, Colorado Springs, CO 80924 · 4bd/3ba · $690,000
List Price
$690,000
Assumable Rate
4.48%
Remaining Balance
$622,268
Equity Gap
$67,731
Loan Type
VAAdjust Your Scenario
$34,500
$34,500$67,731
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.48% (VA)
Blended Rate: 4.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,143/moAssumable @ 4.48% + gap loan
$3,401/moAssumed loan: $3,146/mo
Gap financing: $256/mo
$742less per month with the assumable
Your Savings on This Property
4173 Captain Jack, Colorado Springs · 4.48% VA vs 6.5% conventional
$742
per month
$8,906
per year
$267,170
over 30 years
$267,169
interest saved
How gap financing works: The equity gap ($67,731) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,500, 5% of purchase price) and a second mortgage for the rest ($33,231 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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