Loan Comparison: 5.25% vs 6.5%
1130 Charismatic Way, Colorado Springs, CO 80921 · 4bd/3ba · $768,000
List Price
$768,000
Assumable Rate
5.25%
Remaining Balance
$615,222
Equity Gap
$152,777
Loan Type
VAAdjust Your Scenario
$38,400
$38,400$152,777
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (VA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,612/moAssumable @ 5.25% + gap loan
$4,197/moAssumed loan: $3,397/mo
Gap financing: $800/mo
$415less per month with the assumable
Your Savings on This Property
1130 Charismatic Way, Colorado Springs · 5.25% VA vs 6.5% conventional
$415
per month
$4,975
per year
$149,238
over 30 years
$149,237
interest saved
How gap financing works: The equity gap ($152,777) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,400, 5% of purchase price) and a second mortgage for the rest ($114,377 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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