Loan Comparison: 3.02% vs 6.5%
6123 Mineral Belt, Colorado Springs, CO 80927 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.02%
Remaining Balance
$274,371
Equity Gap
$140,629
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$140,629
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.02% + gap loan
$2,081/moAssumed loan: $1,160/mo
Gap financing: $922/mo
$410less per month with the assumable
Your Savings on This Property
6123 Mineral Belt, Colorado Springs · 3.02% VA vs 6.5% conventional
$410
per month
$4,925
per year
$147,759
over 30 years
$147,759
interest saved
How gap financing works: The equity gap ($140,629) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($119,879 at 8.5%). 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 6123 Mineral Belt.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.