Loan Comparison: 4.17% vs 6.5%
4734 Portillo, Colorado Springs, CO 80924 · 4bd/3ba · $749,900
List Price
$749,900
Assumable Rate
4.17%
Remaining Balance
$409,198
Equity Gap
$342,659
Loan Type
VAAdjust Your Scenario
$37,495
$37,495$342,659
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 6.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 4.17% + gap loan
$4,340/moAssumed loan: $1,994/mo
Gap financing: $2,346/mo
$163less per month with the assumable
Your Savings on This Property
4734 Portillo, Colorado Springs · 4.17% VA vs 6.5% conventional
$163
per month
$1,951
per year
$58,517
over 30 years
$60,474
interest saved
How gap financing works: The equity gap ($342,659) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,495, 5% of purchase price) and a second mortgage for the rest ($305,164 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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