Loan Comparison: 6.61% vs 6.5%
4821 Ranch Drive, Colorado Springs, CO 80918 · 4bd/4ba · $489,000
List Price
$489,000
Assumable Rate
6.61%
Remaining Balance
$454,562
Equity Gap
$34,437
Loan Type
VAAdjust Your Scenario
$24,450
$24,450$34,437
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.61% (VA)
Blended Rate: 6.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,936/moAssumable @ 6.61% + gap loan
$2,976/moAssumed loan: $2,906/mo
Gap financing: $70/mo
Your Savings on This Property
4821 Ranch Drive, Colorado Springs · 6.61% 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 ($34,437) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,450, 5% of purchase price) and a second mortgage for the rest ($9,987 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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