Loan Comparison: 4.17% vs 6.5%
9215 Chetwood, Colorado Springs, CO 80920 · 4bd/4ba · $719,000
List Price
$719,000
Assumable Rate
4.17%
Remaining Balance
$599,852
Equity Gap
$117,022
Loan Type
VAAdjust Your Scenario
$35,950
$35,950$117,022
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,317/moAssumable @ 4.17% + gap loan
$3,546/moAssumed loan: $2,923/mo
Gap financing: $623/mo
$771less per month with the assumable
Your Savings on This Property
9215 Chetwood, Colorado Springs · 4.17% VA vs 6.5% conventional
$771
per month
$9,253
per year
$277,589
over 30 years
$275,463
interest saved
How gap financing works: The equity gap ($117,022) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,950, 5% of purchase price) and a second mortgage for the rest ($81,072 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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