Loan Comparison: 6.49% vs 6.5%
4321 Crow Creek Drive, Colorado Springs, CO 80922 · 4bd/3ba · $460,000
List Price
$460,000
Assumable Rate
6.49%
Remaining Balance
$348,800
Equity Gap
$111,199
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$111,199
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.49% (VA)
Blended Rate: 6.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 6.49% + gap loan
$2,819/moAssumed loan: $2,202/mo
Gap financing: $617/mo
Your Savings on This Property
4321 Crow Creek Drive, Colorado Springs · 6.49% 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 ($111,199) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($88,199 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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