Loan Comparison: 4.27% vs 6.5%
7465 Bonterra, Colorado Springs, CO 80925 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
4.27%
Remaining Balance
$288,735
Equity Gap
$161,264
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$161,264
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (VA)
Blended Rate: 5.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 4.27% + gap loan
$2,491/moAssumed loan: $1,424/mo
Gap financing: $1,067/mo
$211less per month with the assumable
Your Savings on This Property
7465 Bonterra, Colorado Springs · 4.27% VA vs 6.5% conventional
$211
per month
$2,536
per year
$76,079
over 30 years
$76,078
interest saved
How gap financing works: The equity gap ($161,264) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($138,764 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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