Loan Comparison: 3.05% vs 6.5%
2579 Malpaso Point, Colorado Springs, CO 80922 · 5bd/4ba · $355,000
List Price
$355,000
Assumable Rate
3.05%
Remaining Balance
$200,759
Equity Gap
$154,240
Loan Type
VAAdjust Your Scenario
$17,750
$17,750$154,240
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 4.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 3.05% + gap loan
$1,806/moAssumed loan: $852/mo
Gap financing: $954/mo
$325less per month with the assumable
Your Savings on This Property
2579 Malpaso Point, Colorado Springs · 3.05% VA vs 6.5% conventional
$325
per month
$3,906
per year
$117,166
over 30 years
$117,165
interest saved
How gap financing works: The equity gap ($154,240) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($136,490 at 7.5%). 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.
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