Loan Comparison: 4.37% vs 6.5%
3325 Raindrop, Colorado Springs, CO 80917 · 4bd/3ba · $385,000
List Price
$385,000
Assumable Rate
4.37%
Remaining Balance
$54,120
Equity Gap
$394,478
Loan Type
VAAdjust Your Scenario
$19,250
$19,250$394,478
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (VA)
Blended Rate: 7.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,312/moAssumable @ 4.37% + gap loan
$3,155/moAssumed loan: $270/mo
Gap financing: $2,885/mo
Your Savings on This Property
3325 Raindrop, Colorado Springs · 4.37% 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 ($394,478) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,250, 5% of purchase price) and a second mortgage for the rest ($375,228 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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