Loan Comparison: 3.05% vs 6.5%
1952 Clayhouse Drive, Colorado Springs, CO 80921 · 4bd/3ba · $999,950
List Price
$999,950
Assumable Rate
3.05%
Remaining Balance
$491,389
Equity Gap
$508,560
Loan Type
VAAdjust Your Scenario
$49,998
$49,998$508,560
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 5.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,004/moAssumable @ 3.05% + gap loan
$5,291/moAssumed loan: $2,085/mo
Gap financing: $3,206/mo
$713less per month with the assumable
Your Savings on This Property
1952 Clayhouse Drive, Colorado Springs · 3.05% VA vs 6.5% conventional
$713
per month
$8,556
per year
$256,689
over 30 years
$256,687
interest saved
How gap financing works: The equity gap ($508,560) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($49,998, 5% of purchase price) and a second mortgage for the rest ($458,562 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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