Loan Comparison: 2.6% vs 6.5%
833 Grissom Drive, Colorado Springs, CO 80922 · 5bd/4ba · $440,000
List Price
$440,000
Assumable Rate
2.6%
Remaining Balance
$273,430
Equity Gap
$166,569
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$166,569
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.6% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.6% + gap loan
$2,105/moAssumed loan: $1,095/mo
Gap financing: $1,011/mo
$537less per month with the assumable
Your Savings on This Property
833 Grissom Drive, Colorado Springs · 2.6% VA vs 6.5% conventional
$537
per month
$6,439
per year
$193,157
over 30 years
$193,156
interest saved
How gap financing works: The equity gap ($166,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($144,569 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 833 Grissom Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.