Loan Comparison: 4.59% vs 6.5%
3715 Riviera, Colorado Springs, CO 80922 · 2bd/2ba · $235,000
List Price
$235,000
Assumable Rate
4.59%
Remaining Balance
$171,471
Equity Gap
$63,529
Loan Type
VAAdjust Your Scenario
$11,750
$11,750$63,529
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.59% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 4.59% + gap loan
$1,276/moAssumed loan: $878/mo
Gap financing: $398/mo
$135less per month with the assumable
Your Savings on This Property
3715 Riviera, Colorado Springs · 4.59% VA vs 6.5% conventional
$135
per month
$1,619
per year
$48,580
over 30 years
$48,580
interest saved
How gap financing works: The equity gap ($63,529) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,750, 5% of purchase price) and a second mortgage for the rest ($51,779 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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