Loan Comparison: 4.27% vs 6.5%
84 Luxury, Colorado Springs, CO 80921 · 4bd/4ba · $425,000
List Price
$425,000
Assumable Rate
4.27%
Remaining Balance
$300,892
Equity Gap
$124,108
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$124,108
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 4.27% + gap loan
$2,275/moAssumed loan: $1,484/mo
Gap financing: $791/mo
$277less per month with the assumable
Your Savings on This Property
84 Luxury, Colorado Springs · 4.27% VA vs 6.5% conventional
$277
per month
$3,328
per year
$99,847
over 30 years
$99,847
interest saved
How gap financing works: The equity gap ($124,108) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($102,858 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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