Loan Comparison: 6.33% vs 6.5%
2131 Seaglass Street, Colorado Springs, CO 80921 · 4bd/3ba · $860,000
List Price
$860,000
Assumable Rate
6.33%
Remaining Balance
$812,227
Equity Gap
$47,773
Loan Type
VAAdjust Your Scenario
$43,000
$43,000$47,773
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.33% (VA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,164/moAssumable @ 6.33% + gap loan
$5,077/moAssumed loan: $5,043/mo
Gap financing: $33/mo
$87less per month with the assumable
Your Savings on This Property
2131 Seaglass Street, Colorado Springs · 6.33% VA vs 6.5% conventional
$87
per month
$1,047
per year
$31,415
over 30 years
$31,415
interest saved
How gap financing works: The equity gap ($47,773) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,000, 5% of purchase price) and a second mortgage for the rest ($4,773 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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