Loan Comparison: 6.94% vs 6.5%
1220 Fountain Boulevard, Colorado Springs, CO 80910 · 2bd/1ba · $339,000
List Price
$339,000
Assumable Rate
6.94%
Remaining Balance
$318,702
Equity Gap
$20,297
Loan Type
VAAdjust Your Scenario
$16,950
$16,950$20,297
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.94% (VA)
Blended Rate: 6.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,036/moAssumable @ 6.94% + gap loan
$2,131/moAssumed loan: $2,108/mo
Gap financing: $23/mo
Your Savings on This Property
1220 Fountain Boulevard, Colorado Springs · 6.94% 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 ($20,297) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,950, 5% of purchase price) and a second mortgage for the rest ($3,347 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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