Loan Comparison: 2.77% vs 6.5%
6973 Red Cardinal, Colorado Springs, CO 80908 · 3bd/3ba · $439,000
List Price
$439,000
Assumable Rate
2.77%
Remaining Balance
$332,758
Equity Gap
$106,241
Loan Type
VAAdjust Your Scenario
$21,950
$21,950$106,241
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 2.77% + gap loan
$2,010/moAssumed loan: $1,362/mo
Gap financing: $648/mo
$626less per month with the assumable
Your Savings on This Property
6973 Red Cardinal, Colorado Springs · 2.77% VA vs 6.5% conventional
$626
per month
$7,511
per year
$225,335
over 30 years
$225,334
interest saved
How gap financing works: The equity gap ($106,241) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($84,291 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 6973 Red Cardinal.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.