Loan Comparison: 4.5% vs 6.5%
2822 Valley Hi, Colorado Springs, CO 80910 · 4bd/3ba · $413,000
List Price
$413,000
Assumable Rate
4.5%
Remaining Balance
$326,164
Equity Gap
$134,525
Loan Type
VAAdjust Your Scenario
$20,650
$20,650$134,525
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.5% (VA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,480/moAssumable @ 4.5% + gap loan
$2,528/moAssumed loan: $1,653/mo
Gap financing: $876/mo
Your Savings on This Property
2822 Valley Hi, Colorado Springs · 4.5% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$30,299
interest saved
How gap financing works: The equity gap ($134,525) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,650, 5% of purchase price) and a second mortgage for the rest ($113,875 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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