Loan Comparison: 3.23% vs 6.5%
4404 Horizonpoint, Colorado Springs, CO 80925 · 4bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.23%
Remaining Balance
$322,470
Equity Gap
$166,965
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$166,965
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.23% + gap loan
$2,524/moAssumed loan: $1,400/mo
Gap financing: $1,124/mo
Your Savings on This Property
4404 Horizonpoint, Colorado Springs · 3.23% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$62,839
interest saved
How gap financing works: The equity gap ($166,965) 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 ($146,215 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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