Loan Comparison: 4% vs 6.5%
1917 Cache La Poudre, Colorado Springs, CO 80909 · 3bd/2ba · $365,000
List Price
$365,000
Assumable Rate
4%
Remaining Balance
$373,395
Equity Gap
$20,190
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$20,190
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 4% + gap loan
$1,798/moAssumed loan: $1,783/mo
Gap financing: $15/mo
$394less per month with the assumable
Your Savings on This Property
1917 Cache La Poudre, Colorado Springs · 4% VA vs 6.5% conventional
$394
per month
$4,730
per year
$141,888
over 30 years
$170,473
interest saved
How gap financing works: The equity gap ($20,190) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($1,940 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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