Loan Comparison: 4.17% vs 6.5%
9234 Gallery, Colorado Springs, CO 80924 · 4bd/5ba · $999,000
List Price
$999,000
Assumable Rate
4.17%
Remaining Balance
$591,214
Equity Gap
$407,786
Loan Type
VAAdjust Your Scenario
$49,950
$49,950$407,786
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,999/moAssumable @ 4.17% + gap loan
$5,632/moAssumed loan: $2,881/mo
Gap financing: $2,751/mo
$366less per month with the assumable
Your Savings on This Property
9234 Gallery, Colorado Springs · 4.17% VA vs 6.5% conventional
$366
per month
$4,397
per year
$131,903
over 30 years
$131,903
interest saved
How gap financing works: The equity gap ($407,786) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,950, 5% of purchase price) and a second mortgage for the rest ($357,836 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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