Loan Comparison: 6.58% vs 6.5%
1346 Mirrillion Heights, Colorado Springs, CO 80904 · 3bd/2ba · $434,900
List Price
$434,900
Assumable Rate
6.58%
Remaining Balance
$397,270
Equity Gap
$37,630
Loan Type
VAAdjust Your Scenario
$21,745
$21,745$37,630
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.58% (VA)
Blended Rate: 6.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,611/moAssumable @ 6.58% + gap loan
$2,643/moAssumed loan: $2,532/mo
Gap financing: $111/mo
Your Savings on This Property
1346 Mirrillion Heights, Colorado Springs · 6.58% 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 ($37,630) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,745, 5% of purchase price) and a second mortgage for the rest ($15,885 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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