Loan Comparison: 6.27% vs 6.5%
10377 Valor Court, Colorado Springs, CO 80925 · 3bd/1ba · $584,900
List Price
$584,900
Assumable Rate
6.27%
Remaining Balance
$529,391
Equity Gap
$55,509
Loan Type
VAAdjust Your Scenario
$29,245
$29,245$55,509
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.27% (VA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,512/moAssumable @ 6.27% + gap loan
$3,450/moAssumed loan: $3,266/mo
Gap financing: $184/mo
$62less per month with the assumable
Your Savings on This Property
10377 Valor Court, Colorado Springs · 6.27% VA vs 6.5% conventional
$62
per month
$744
per year
$22,333
over 30 years
$22,333
interest saved
How gap financing works: The equity gap ($55,509) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,245, 5% of purchase price) and a second mortgage for the rest ($26,264 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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