Loan Comparison: 6.32% vs 6.5%
4652 Amazonite Drive, Colorado Springs, CO 80938 · 4bd/2ba · $475,000
List Price
$475,000
Assumable Rate
6.32%
Remaining Balance
$426,391
Equity Gap
$48,609
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$48,609
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.32% (VA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 6.32% + gap loan
$2,819/moAssumed loan: $2,645/mo
Gap financing: $174/mo
$34less per month with the assumable
Your Savings on This Property
4652 Amazonite Drive, Colorado Springs · 6.32% VA vs 6.5% conventional
$34
per month
$403
per year
$12,090
over 30 years
$12,090
interest saved
How gap financing works: The equity gap ($48,609) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($24,859 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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