Loan Comparison: 6.37% vs 6.5%
2027 Montezuma Drive, Colorado Springs, CO 80910 · 4bd/2ba · $395,000
List Price
$395,000
Assumable Rate
6.37%
Remaining Balance
$95,659
Equity Gap
$299,340
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$299,340
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.37% (VA)
Blended Rate: 7.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 6.37% + gap loan
$2,551/moAssumed loan: $596/mo
Gap financing: $1,955/mo
Your Savings on This Property
2027 Montezuma Drive, Colorado Springs · 6.37% 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 ($299,340) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($279,590 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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