Loan Comparison: 4.83% vs 6.5%
4376 Neal, Colorado Springs, CO 80916 · 3bd/2ba · $389,500
List Price
$389,500
Assumable Rate
4.83%
Remaining Balance
$179,231
Equity Gap
$210,269
Loan Type
VAAdjust Your Scenario
$19,475
$19,475$210,269
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.83% (VA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,339/moAssumable @ 4.83% + gap loan
$2,411/moAssumed loan: $944/mo
Gap financing: $1,467/mo
Your Savings on This Property
4376 Neal, Colorado Springs · 4.83% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($210,269) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,475, 5% of purchase price) and a second mortgage for the rest ($190,794 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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