Loan Comparison: 6.32% vs 6.5%
1118 Spectrum Loop, Colorado Springs, CO 80921 · 3bd/2ba · $829,900
List Price
$829,900
Assumable Rate
6.32%
Remaining Balance
$769,472
Equity Gap
$60,427
Loan Type
VAAdjust Your Scenario
$41,495
$41,495$60,427
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.32% (VA)
Blended Rate: 6.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,983/moAssumable @ 6.32% + gap loan
$4,905/moAssumed loan: $4,773/mo
Gap financing: $132/mo
$78less per month with the assumable
Your Savings on This Property
1118 Spectrum Loop, Colorado Springs · 6.32% VA vs 6.5% conventional
$78
per month
$936
per year
$28,088
over 30 years
$28,087
interest saved
How gap financing works: The equity gap ($60,427) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,495, 5% of purchase price) and a second mortgage for the rest ($18,932 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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