Loan Comparison: 5.22% vs 6.5%
9585 Ghost Flower Lane, Colorado Springs, CO 80925 · 3bd/3ba · $469,000
List Price
$469,000
Assumable Rate
5.22%
Remaining Balance
$421,050
Equity Gap
$47,950
Loan Type
VAAdjust Your Scenario
$23,450
$23,450$47,950
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,816/moAssumable @ 5.22% + gap loan
$2,489/moAssumed loan: $2,317/mo
Gap financing: $171/mo
$328less per month with the assumable
Your Savings on This Property
9585 Ghost Flower Lane, Colorado Springs · 5.22% VA vs 6.5% conventional
$328
per month
$3,932
per year
$117,949
over 30 years
$117,949
interest saved
How gap financing works: The equity gap ($47,950) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,450, 5% of purchase price) and a second mortgage for the rest ($24,500 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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