Loan Comparison: 6.95% vs 6.5%
1695 Leoti Drive, Colorado Springs, CO 80915 · 2bd/3ba · $369,900
List Price
$369,900
Assumable Rate
6.95%
Remaining Balance
$262,699
Equity Gap
$107,200
Loan Type
VAAdjust Your Scenario
$18,495
$18,495$107,200
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.95% (VA)
Blended Rate: 7.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 6.95% + gap loan
$2,359/moAssumed loan: $1,739/mo
Gap financing: $620/mo
Your Savings on This Property
1695 Leoti Drive, Colorado Springs · 6.95% 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 ($107,200) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($88,705 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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