Loan Comparison: 3% vs 6.5%
6544 Cabana Circle, Colorado Springs, CO 80923 · 7bd/6ba · $475,000
List Price
$475,000
Assumable Rate
3%
Remaining Balance
$222,585
Equity Gap
$252,415
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$252,415
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3% + gap loan
$2,537/moAssumed loan: $938/mo
Gap financing: $1,599/mo
$315less per month with the assumable
Your Savings on This Property
6544 Cabana Circle, Colorado Springs · 3% VA vs 6.5% conventional
$315
per month
$3,779
per year
$113,371
over 30 years
$113,371
interest saved
How gap financing works: The equity gap ($252,415) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($228,665 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.
🏠
Back to This Listing
View photos, details, and request a showing for 6544 Cabana Circle.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.