Loan Comparison: 2.7% vs 6.5%
2915 Hayman Terrace, Colorado Springs, CO 80910 · 4bd/2ba · $365,000
List Price
$365,000
Assumable Rate
2.7%
Remaining Balance
$270,259
Equity Gap
$94,740
Loan Type
VAAdjust Your Scenario
$18,250
$18,250$94,740
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 3.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 2.7% + gap loan
$1,631/moAssumed loan: $1,096/mo
Gap financing: $535/mo
$561less per month with the assumable
Your Savings on This Property
2915 Hayman Terrace, Colorado Springs · 2.7% VA vs 6.5% conventional
$561
per month
$6,728
per year
$201,853
over 30 years
$201,852
interest saved
How gap financing works: The equity gap ($94,740) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($76,490 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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