Loan Comparison: 4.48% vs 6.5%
4271 Captain Jack, Colorado Springs, CO 80924 · 5bd/4ba · $825,000
List Price
$825,000
Assumable Rate
4.48%
Remaining Balance
$614,809
Equity Gap
$210,191
Loan Type
VAAdjust Your Scenario
$41,250
$41,250$210,191
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.48% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 4.48% + gap loan
$4,407/moAssumed loan: $3,108/mo
Gap financing: $1,299/mo
$547less per month with the assumable
Your Savings on This Property
4271 Captain Jack, Colorado Springs · 4.48% VA vs 6.5% conventional
$547
per month
$6,564
per year
$196,912
over 30 years
$196,912
interest saved
How gap financing works: The equity gap ($210,191) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($168,941 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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