Loan Comparison: 4.17% vs 6.5%
4520 Hollyridge, Colorado Springs, CO 80916 · 5bd/3ba · $370,000
List Price
$370,000
Assumable Rate
4.17%
Remaining Balance
$337,337
Equity Gap
$32,061
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$32,061
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 4.17% + gap loan
$1,748/moAssumed loan: $1,644/mo
Gap financing: $104/mo
$474less per month with the assumable
Your Savings on This Property
4520 Hollyridge, Colorado Springs · 4.17% VA vs 6.5% conventional
$474
per month
$5,685
per year
$170,536
over 30 years
$169,934
interest saved
How gap financing works: The equity gap ($32,061) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($13,561 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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