Loan Comparison: 6.11% vs 6.5%
11851 Artful Way, Colorado Springs, CO 80921 · 4bd/3ba · $1,116,345
List Price
$1,116,345
Assumable Rate
6.11%
Remaining Balance
$515,005
Equity Gap
$601,339
Loan Type
VAAdjust Your Scenario
$55,817
$55,817$601,339
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (VA)
Blended Rate: 6.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,703/moAssumable @ 6.11% + gap loan
$6,939/moAssumed loan: $3,124/mo
Gap financing: $3,814/mo
Your Savings on This Property
11851 Artful Way, Colorado Springs · 6.11% 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 ($601,339) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,817, 5% of purchase price) and a second mortgage for the rest ($545,522 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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