Loan Comparison: 6.11% vs 6.5%
8436 Windy Hill Drive, Colorado Springs, CO 80920 · 4bd/3ba · $674,625
List Price
$674,625
Assumable Rate
6.11%
Remaining Balance
$609,417
Equity Gap
$65,207
Loan Type
VAAdjust Your Scenario
$33,731
$33,731$65,207
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (VA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,051/moAssumable @ 6.11% + gap loan
$3,917/moAssumed loan: $3,697/mo
Gap financing: $220/mo
$134less per month with the assumable
Your Savings on This Property
8436 Windy Hill Drive, Colorado Springs · 6.11% VA vs 6.5% conventional
$134
per month
$1,606
per year
$48,178
over 30 years
$48,177
interest saved
How gap financing works: The equity gap ($65,207) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,731, 5% of purchase price) and a second mortgage for the rest ($31,476 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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