Loan Comparison: 2.88% vs 6.5%
6203 San Mateo, Colorado Springs, CO 80911 · 5bd/3ba · $469,000
List Price
$469,000
Assumable Rate
2.88%
Remaining Balance
$413,602
Equity Gap
$55,398
Loan Type
VAAdjust Your Scenario
$23,450
$23,450$55,398
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,816/moAssumable @ 2.88% + gap loan
$1,963/moAssumed loan: $1,717/mo
Gap financing: $246/mo
$853less per month with the assumable
Your Savings on This Property
6203 San Mateo, Colorado Springs · 2.88% VA vs 6.5% conventional
$853
per month
$10,241
per year
$307,230
over 30 years
$307,230
interest saved
How gap financing works: The equity gap ($55,398) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,450, 5% of purchase price) and a second mortgage for the rest ($31,948 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 6203 San Mateo.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.