Loan Comparison: 3.5% vs 6.5%
6348 La Plata Peak Drive, Colorado Springs, CO 80923 · 3bd/1ba · $489,900
List Price
$489,900
Assumable Rate
3.5%
Remaining Balance
$309,105
Equity Gap
$180,794
Loan Type
VAAdjust Your Scenario
$24,495
$24,495$180,794
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.5% (VA)
Blended Rate: 4.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.5% + gap loan
$2,481/moAssumed loan: $1,388/mo
Gap financing: $1,093/mo
$461less per month with the assumable
Your Savings on This Property
6348 La Plata Peak Drive, Colorado Springs · 3.5% VA vs 6.5% conventional
$461
per month
$5,529
per year
$165,885
over 30 years
$165,884
interest saved
How gap financing works: The equity gap ($180,794) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($156,299 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 6348 La Plata Peak Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.