Loan Comparison: 6.5% vs 6.5%
8172 Basaltic Drive, Colorado Springs, CO 80938 · 4bd/3ba · $490,000
List Price
$490,000
Assumable Rate
6.5%
Remaining Balance
$448,144
Equity Gap
$41,855
Loan Type
VAAdjust Your Scenario
$24,500
$24,500$41,855
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (VA)
Blended Rate: 6.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 6.5% + gap loan
$2,954/moAssumed loan: $2,833/mo
Gap financing: $121/mo
Your Savings on This Property
8172 Basaltic Drive, Colorado Springs · 6.5% 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 ($41,855) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($17,355 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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