Loan Comparison: 6.11% vs 6.5%
12526 Tenny Crags Road, Colorado Springs, CO 80921 · 5bd/4ba · $849,900
List Price
$849,900
Assumable Rate
6.11%
Remaining Balance
$789,871
Equity Gap
$60,028
Loan Type
VAAdjust Your Scenario
$42,495
$42,495$60,028
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (VA)
Blended Rate: 6.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,103/moAssumable @ 6.11% + gap loan
$4,914/moAssumed loan: $4,792/mo
Gap financing: $123/mo
$189less per month with the assumable
Your Savings on This Property
12526 Tenny Crags Road, Colorado Springs · 6.11% VA vs 6.5% conventional
$189
per month
$2,269
per year
$68,067
over 30 years
$68,066
interest saved
How gap financing works: The equity gap ($60,028) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,495, 5% of purchase price) and a second mortgage for the rest ($17,533 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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