Loan Comparison: 2.87% vs 6.5%
7406 Waterside, Colorado Springs, CO 80925 · 4bd/4ba · $540,000
List Price
$540,000
Assumable Rate
2.87%
Remaining Balance
$443,815
Equity Gap
$95,188
Loan Type
VAAdjust Your Scenario
$27,000
$27,000$95,188
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 2.87% + gap loan
$2,364/moAssumed loan: $1,840/mo
Gap financing: $524/mo
$878less per month with the assumable
Your Savings on This Property
7406 Waterside, Colorado Springs · 2.87% VA vs 6.5% conventional
$878
per month
$10,536
per year
$316,092
over 30 years
$315,095
interest saved
How gap financing works: The equity gap ($95,188) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($68,188 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 7406 Waterside.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.