Loan Comparison: 6.39% vs 6.5%
6162 Dancing Moon Way, Colorado Springs, CO 80911 · 3bd/2ba · $420,000
List Price
$420,000
Assumable Rate
6.39%
Remaining Balance
$398,890
Equity Gap
$21,109
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$21,109
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.39% (VA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 6.39% + gap loan
$2,493/moAssumed loan: $2,492/mo
Gap financing: $1/mo
$29less per month with the assumable
Your Savings on This Property
6162 Dancing Moon Way, Colorado Springs · 6.39% VA vs 6.5% conventional
$29
per month
$345
per year
$10,339
over 30 years
$10,338
interest saved
How gap financing works: The equity gap ($21,109) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($109 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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