Loan Comparison: 4.03% vs 6.5%
7229 Waterman, Colorado Springs, CO 80922 · 4bd/3ba · $510,000
List Price
$510,000
Assumable Rate
4.03%
Remaining Balance
$217,900
Equity Gap
$365,752
Loan Type
VAAdjust Your Scenario
$25,500
$25,500$365,752
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (VA)
Blended Rate: 6.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 4.03% + gap loan
$3,660/moAssumed loan: $1,044/mo
Gap financing: $2,616/mo
Your Savings on This Property
7229 Waterman, Colorado Springs · 4.03% 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 ($365,752) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($340,252 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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