Loan Comparison: 4.65% vs 6.5%
849 Fountain, Colorado Springs, CO 80903 · 2bd/1ba · $323,500
List Price
$323,500
Assumable Rate
4.65%
Remaining Balance
$308,752
Equity Gap
$22,136
Loan Type
VAAdjust Your Scenario
$16,175
$16,175$22,136
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.65% (VA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,943/moAssumable @ 4.65% + gap loan
$1,638/moAssumed loan: $1,592/mo
Gap financing: $46/mo
$305less per month with the assumable
Your Savings on This Property
849 Fountain, Colorado Springs · 4.65% VA vs 6.5% conventional
$305
per month
$3,656
per year
$109,666
over 30 years
$117,054
interest saved
How gap financing works: The equity gap ($22,136) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,175, 5% of purchase price) and a second mortgage for the rest ($5,961 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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