Loan Comparison: 6.35% vs 6.5%
6935 Blazing Trail Drive, Colorado Springs, CO 80922 · 3bd/2ba · $525,000
List Price
$525,000
Assumable Rate
6.35%
Remaining Balance
$464,766
Equity Gap
$60,233
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$60,233
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (VA)
Blended Rate: 6.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 6.35% + gap loan
$3,130/moAssumed loan: $2,892/mo
Gap financing: $238/mo
$23less per month with the assumable
Your Savings on This Property
6935 Blazing Trail Drive, Colorado Springs · 6.35% VA vs 6.5% conventional
$23
per month
$275
per year
$8,239
over 30 years
$8,238
interest saved
How gap financing works: The equity gap ($60,233) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($33,983 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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