Loan Comparison: 3.05% vs 6.5%
9752 Wando Drive, Colorado Springs, CO 80925 · 5bd/4ba · $459,900
List Price
$459,900
Assumable Rate
3.05%
Remaining Balance
$422,462
Equity Gap
$37,438
Loan Type
VAAdjust Your Scenario
$22,995
$22,995$37,438
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 3.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.05% + gap loan
$1,894/moAssumed loan: $1,793/mo
Gap financing: $101/mo
$868less per month with the assumable
Your Savings on This Property
9752 Wando Drive, Colorado Springs · 3.05% VA vs 6.5% conventional
$868
per month
$10,416
per year
$312,487
over 30 years
$312,487
interest saved
How gap financing works: The equity gap ($37,438) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($14,443 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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