Loan Comparison: 2.68% vs 6.5%
7503 Sailwind Drive, Colorado Springs, CO 80925 · 3bd/2ba · $424,900
List Price
$424,900
Assumable Rate
2.68%
Remaining Balance
$318,077
Equity Gap
$106,823
Loan Type
VAAdjust Your Scenario
$21,245
$21,245$106,823
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 3.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,551/moAssumable @ 2.68% + gap loan
$1,885/moAssumed loan: $1,287/mo
Gap financing: $598/mo
$666less per month with the assumable
Your Savings on This Property
7503 Sailwind Drive, Colorado Springs · 2.68% VA vs 6.5% conventional
$666
per month
$7,995
per year
$239,847
over 30 years
$239,847
interest saved
How gap financing works: The equity gap ($106,823) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,245, 5% of purchase price) and a second mortgage for the rest ($85,578 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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