Loan Comparison: 4% vs 6.5%
4011 Pikes Peak, Colorado Springs, CO 80909 · 3bd/1ba · $323,000
List Price
$323,000
Assumable Rate
4%
Remaining Balance
$300,000
Equity Gap
$46,475
Loan Type
VAAdjust Your Scenario
$16,150
$16,150$46,475
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,940/moAssumable @ 4% + gap loan
$1,665/moAssumed loan: $1,432/mo
Gap financing: $233/mo
$274less per month with the assumable
Your Savings on This Property
4011 Pikes Peak, Colorado Springs · 4% VA vs 6.5% conventional
$274
per month
$3,289
per year
$98,669
over 30 years
$122,144
interest saved
How gap financing works: The equity gap ($46,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,150, 5% of purchase price) and a second mortgage for the rest ($30,325 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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