Loan Comparison: 5.23% vs 6.5%
7475 Chancellor, Colorado Springs, CO 80920 · 5bd/4ba · $575,000
List Price
$575,000
Assumable Rate
5.23%
Remaining Balance
$470,046
Equity Gap
$104,954
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$104,954
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 5.23% + gap loan
$3,176/moAssumed loan: $2,590/mo
Gap financing: $586/mo
$277less per month with the assumable
Your Savings on This Property
7475 Chancellor, Colorado Springs · 5.23% VA vs 6.5% conventional
$277
per month
$3,323
per year
$99,697
over 30 years
$99,697
interest saved
How gap financing works: The equity gap ($104,954) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($76,204 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 7475 Chancellor.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.