Loan Comparison: 6.48% vs 6.5%
207 Hancock Avenue, Colorado Springs, CO 80903 · 3bd/2ba · $455,000
List Price
$455,000
Assumable Rate
6.48%
Remaining Balance
$407,064
Equity Gap
$47,935
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$47,935
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.48% (VA)
Blended Rate: 6.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 6.48% + gap loan
$2,744/moAssumed loan: $2,568/mo
Gap financing: $176/mo
Your Savings on This Property
207 Hancock Avenue, Colorado Springs · 6.48% 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 ($47,935) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($25,185 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.
🏠
Back to This Listing
View photos, details, and request a showing for 207 Hancock Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.