Loan Comparison: 3.24% vs 6.5%
4107 Shelley Avenue, Colorado Springs, CO 80910 · 5bd/5ba · $389,000
List Price
$389,000
Assumable Rate
3.24%
Remaining Balance
$119,385
Equity Gap
$269,615
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$269,615
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.24% (VA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 3.24% + gap loan
$2,268/moAssumed loan: $519/mo
Gap financing: $1,749/mo
$68less per month with the assumable
Your Savings on This Property
4107 Shelley Avenue, Colorado Springs · 3.24% VA vs 6.5% conventional
$68
per month
$812
per year
$24,372
over 30 years
$24,372
interest saved
How gap financing works: The equity gap ($269,615) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($250,165 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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