Loan Comparison: 6.5% vs 6.5%
1819 Pikes Peak Avenue, Colorado Springs, CO 80904 · 3bd/3ba · $758,400
List Price
$758,400
Assumable Rate
6.5%
Remaining Balance
$652,310
Equity Gap
$106,089
Loan Type
VAAdjust Your Scenario
$37,920
$37,920$106,089
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (VA)
Blended Rate: 6.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,554/moAssumable @ 6.5% + gap loan
$4,600/moAssumed loan: $4,123/mo
Gap financing: $477/mo
Your Savings on This Property
1819 Pikes Peak Avenue, 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 ($106,089) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,920, 5% of purchase price) and a second mortgage for the rest ($68,169 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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