Loan Comparison: 4.06% vs 6.5%
3254 Daydreamer, Colorado Springs, CO 80908 · 4bd/3ba · $699,900
List Price
$699,900
Assumable Rate
4.06%
Remaining Balance
$361,178
Equity Gap
$337,841
Loan Type
VAAdjust Your Scenario
$34,995
$34,995$337,841
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.06% (VA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 4.06% + gap loan
$4,065/moAssumed loan: $1,737/mo
Gap financing: $2,329/mo
$137less per month with the assumable
Your Savings on This Property
3254 Daydreamer, Colorado Springs · 4.06% VA vs 6.5% conventional
$137
per month
$1,646
per year
$49,389
over 30 years
$48,508
interest saved
How gap financing works: The equity gap ($337,841) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,995, 5% of purchase price) and a second mortgage for the rest ($302,846 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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