Loan Comparison: 3.1% vs 6.5%
6457 Graymont, Colorado Springs, CO 80923 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
3.1%
Remaining Balance
$323,111
Equity Gap
$136,888
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$136,888
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 4.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.1% + gap loan
$2,255/moAssumed loan: $1,380/mo
Gap financing: $876/mo
$507less per month with the assumable
Your Savings on This Property
6457 Graymont, Colorado Springs · 3.1% VA vs 6.5% conventional
$507
per month
$6,080
per year
$182,412
over 30 years
$182,411
interest saved
How gap financing works: The equity gap ($136,888) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($113,888 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 6457 Graymont.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.