Loan Comparison: 6.65% vs 6.5%
661 Orchestra Drive, Colorado Springs, CO 80906 · 4bd/2ba · $549,500
List Price
$549,500
Assumable Rate
6.65%
Remaining Balance
$403,995
Equity Gap
$145,504
Loan Type
VAAdjust Your Scenario
$27,475
$27,475$145,504
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.65% (VA)
Blended Rate: 6.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,300/moAssumable @ 6.65% + gap loan
$3,419/moAssumed loan: $2,594/mo
Gap financing: $825/mo
Your Savings on This Property
661 Orchestra Drive, Colorado Springs · 6.65% 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 ($145,504) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,475, 5% of purchase price) and a second mortgage for the rest ($118,029 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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