Loan Comparison: 4.46% vs 6.5%
7048 Ketchum, Colorado Springs, CO 80911 · 4bd/3ba · $439,000
List Price
$439,000
Assumable Rate
4.46%
Remaining Balance
$224,740
Equity Gap
$214,260
Loan Type
VAAdjust Your Scenario
$21,950
$21,950$214,260
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.46% (VA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 4.46% + gap loan
$2,612/moAssumed loan: $1,133/mo
Gap financing: $1,479/mo
$24less per month with the assumable
Your Savings on This Property
7048 Ketchum, Colorado Springs · 4.46% VA vs 6.5% conventional
$24
per month
$287
per year
$8,623
over 30 years
$8,623
interest saved
How gap financing works: The equity gap ($214,260) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($192,310 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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