Loan Comparison: 4.17% vs 6.5%
2855 Helmsdale, Colorado Springs, CO 80920 · 4bd/4ba · $645,800
List Price
$645,800
Assumable Rate
4.17%
Remaining Balance
$546,320
Equity Gap
$101,399
Loan Type
VAAdjust Your Scenario
$32,290
$32,290$101,399
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,878/moAssumable @ 4.17% + gap loan
$3,193/moAssumed loan: $2,662/mo
Gap financing: $531/mo
$684less per month with the assumable
Your Savings on This Property
2855 Helmsdale, Colorado Springs · 4.17% VA vs 6.5% conventional
$684
per month
$8,212
per year
$246,373
over 30 years
$248,292
interest saved
How gap financing works: The equity gap ($101,399) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,290, 5% of purchase price) and a second mortgage for the rest ($69,109 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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