Loan Comparison: 6.61% vs 6.5%
9581 Clatsop Drive, Colorado Springs, CO 80925 · 3bd/2ba · $505,000
List Price
$505,000
Assumable Rate
6.61%
Remaining Balance
$469,688
Equity Gap
$35,312
Loan Type
VAAdjust Your Scenario
$25,250
$25,250$35,312
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.61% (VA)
Blended Rate: 6.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 6.61% + gap loan
$3,073/moAssumed loan: $3,003/mo
Gap financing: $70/mo
Your Savings on This Property
9581 Clatsop Drive, Colorado Springs · 6.61% 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 ($35,312) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($10,062 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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