Loan Comparison: 6.39% vs 6.5%
3208 Brenner Place, Colorado Springs, CO 80917 · 3bd/1ba · $622,500
List Price
$622,500
Assumable Rate
6.39%
Remaining Balance
$399,371
Equity Gap
$223,128
Loan Type
VAAdjust Your Scenario
$31,125
$31,125$223,128
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.39% (VA)
Blended Rate: 6.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,738/moAssumable @ 6.39% + gap loan
$3,838/moAssumed loan: $2,495/mo
Gap financing: $1,343/mo
Your Savings on This Property
3208 Brenner Place, Colorado Springs · 6.39% 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 ($223,128) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,125, 5% of purchase price) and a second mortgage for the rest ($192,003 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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