Loan Comparison: 6.69% vs 6.5%
10432 Declaration Drive, Colorado Springs, CO 80925 · 4bd/3ba · $540,000
List Price
$540,000
Assumable Rate
6.69%
Remaining Balance
$442,599
Equity Gap
$97,401
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$97,401
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.69% (VA)
Blended Rate: 6.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 6.69% + gap loan
$3,345/moAssumed loan: $2,853/mo
Gap financing: $492/mo
Your Savings on This Property
10432 Declaration Drive, Colorado Springs · 6.69% 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 ($97,401) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($70,401 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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