Loan Comparison: 6.07% vs 6.5%
1065 Applewood Drive, Colorado Springs, CO 80907 · 3bd/3ba · $340,000
List Price
$340,000
Assumable Rate
6.07%
Remaining Balance
$50,869
Equity Gap
$289,130
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$289,130
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.07% (VA)
Blended Rate: 7.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 6.07% + gap loan
$2,210/moAssumed loan: $307/mo
Gap financing: $1,903/mo
Your Savings on This Property
1065 Applewood Drive, Colorado Springs · 6.07% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($289,130) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($272,130 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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