Loan Comparison: 6.64% vs 6.5%
2402 Parma Court, Colorado Springs, CO 80921 · 4bd/3ba · $989,900
List Price
$989,900
Assumable Rate
6.64%
Remaining Balance
$477,558
Equity Gap
$512,341
Loan Type
VAAdjust Your Scenario
$49,495
$49,495$512,341
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.64% (VA)
Blended Rate: 7.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,944/moAssumable @ 6.64% + gap loan
$6,299/moAssumed loan: $3,063/mo
Gap financing: $3,236/mo
Your Savings on This Property
2402 Parma Court, Colorado Springs · 6.64% 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 ($512,341) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,495, 5% of purchase price) and a second mortgage for the rest ($462,846 at 7.5%). 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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