Loan Comparison: 4.63% vs 6.5%
1620 Little Overlook, Colorado Springs, CO 80910 · 5bd/4ba · $620,000
List Price
$620,000
Assumable Rate
4.63%
Remaining Balance
$275,619
Equity Gap
$344,381
Loan Type
VAAdjust Your Scenario
$31,000
$31,000$344,381
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.63% (VA)
Blended Rate: 6.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 4.63% + gap loan
$3,828/moAssumed loan: $1,418/mo
Gap financing: $2,410/mo
Your Savings on This Property
1620 Little Overlook, Colorado Springs · 4.63% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($344,381) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($313,381 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 1620 Little Overlook.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.