Loan Comparison: 6.5% vs 6.5%
6282 Anders Ridge Lane, Colorado Springs, CO 80927 · 3bd/3ba · $471,000
List Price
$471,000
Assumable Rate
6.5%
Remaining Balance
$446,416
Equity Gap
$24,583
Loan Type
VAAdjust Your Scenario
$23,550
$23,550$24,583
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (VA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,828/moAssumable @ 6.5% + gap loan
$2,829/moAssumed loan: $2,822/mo
Gap financing: $7/mo
Your Savings on This Property
6282 Anders Ridge Lane, 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 ($24,583) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,550, 5% of purchase price) and a second mortgage for the rest ($1,033 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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