Loan Comparison: 3.68% vs 6.5%
1528 Yellow Tail Drive, Colorado Springs, CO 80921 · 5bd/4ba · $715,000
List Price
$715,000
Assumable Rate
3.68%
Remaining Balance
$413,901
Equity Gap
$301,098
Loan Type
VAAdjust Your Scenario
$35,750
$35,750$301,098
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.68% (VA)
Blended Rate: 5.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,293/moAssumable @ 3.68% + gap loan
$3,756/moAssumed loan: $1,900/mo
Gap financing: $1,855/mo
$538less per month with the assumable
Your Savings on This Property
1528 Yellow Tail Drive, Colorado Springs · 3.68% VA vs 6.5% conventional
$538
per month
$6,450
per year
$193,512
over 30 years
$193,511
interest saved
How gap financing works: The equity gap ($301,098) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,750, 5% of purchase price) and a second mortgage for the rest ($265,348 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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