Loan Comparison: 6.2% vs 6.5%
6032 Vallecito Drive, Colorado Springs, CO 80923 · 3bd/3ba · $499,900
List Price
$499,900
Assumable Rate
6.2%
Remaining Balance
$473,742
Equity Gap
$26,157
Loan Type
VAAdjust Your Scenario
$24,995
$24,995$26,157
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.2% (VA)
Blended Rate: 6.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 6.2% + gap loan
$2,910/moAssumed loan: $2,902/mo
Gap financing: $8/mo
$92less per month with the assumable
Your Savings on This Property
6032 Vallecito Drive, Colorado Springs · 6.2% VA vs 6.5% conventional
$92
per month
$1,105
per year
$33,147
over 30 years
$33,146
interest saved
How gap financing works: The equity gap ($26,157) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($1,162 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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