Loan Comparison: 6.86% vs 6.5%
625 Jayton Drive, Colorado Springs, CO 80911 · 2bd/3ba · $450,000
List Price
$450,000
Assumable Rate
6.86%
Remaining Balance
$401,149
Equity Gap
$48,850
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$48,850
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.86% (VA)
Blended Rate: 6.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 6.86% + gap loan
$2,815/moAssumed loan: $2,631/mo
Gap financing: $184/mo
Your Savings on This Property
625 Jayton Drive, Colorado Springs · 6.86% 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 ($48,850) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($26,350 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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