Loan Comparison: 6.35% vs 6.5%
2219 Bijou Street, Colorado Springs, CO 80904 · 4bd/2ba · $485,000
List Price
$485,000
Assumable Rate
6.35%
Remaining Balance
$397,361
Equity Gap
$87,639
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$87,639
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (VA)
Blended Rate: 6.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 6.35% + gap loan
$2,916/moAssumed loan: $2,473/mo
Gap financing: $443/mo
Your Savings on This Property
2219 Bijou Street, Colorado Springs · 6.35% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($87,639) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($63,389 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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