Loan Comparison: 4.12% vs 6.5%
9639 Desert Lily, Colorado Springs, CO 80925 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
4.12%
Remaining Balance
$186,898
Equity Gap
$228,668
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$228,668
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.12% (VA)
Blended Rate: 6.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 4.12% + gap loan
$2,504/moAssumed loan: $905/mo
Gap financing: $1,599/mo
Your Savings on This Property
9639 Desert Lily, Colorado Springs · 4.12% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($228,668) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($207,918 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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