Loan Comparison: 6.87% vs 6.5%
4450 Wordsworth Circle, Colorado Springs, CO 80916 · 4bd/4ba · $375,000
List Price
$375,000
Assumable Rate
6.87%
Remaining Balance
$249,445
Equity Gap
$125,554
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$125,554
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.87% (VA)
Blended Rate: 7.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 6.87% + gap loan
$2,385/moAssumed loan: $1,638/mo
Gap financing: $747/mo
Your Savings on This Property
4450 Wordsworth Circle, Colorado Springs · 6.87% 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 ($125,554) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($106,804 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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