Loan Comparison: 4.17% vs 6.5%
4011 Pikes Peak, Colorado Springs, CO 80909 · 3bd/0ba · $325,000
List Price
$325,000
Assumable Rate
4.17%
Remaining Balance
$278,139
Equity Gap
$46,861
Loan Type
VAAdjust Your Scenario
$16,250
$16,250$46,861
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 4.17% + gap loan
$1,591/moAssumed loan: $1,355/mo
Gap financing: $235/mo
$361less per month with the assumable
Your Savings on This Property
4011 Pikes Peak, Colorado Springs · 4.17% VA vs 6.5% conventional
$361
per month
$4,330
per year
$129,908
over 30 years
$129,908
interest saved
How gap financing works: The equity gap ($46,861) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($30,611 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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