Loan Comparison: 3.33% vs 6.5%
5927 John Muir Trail, Colorado Springs, CO 80927 · 2bd/3ba · $395,000
List Price
$395,000
Assumable Rate
3.33%
Remaining Balance
$286,884
Equity Gap
$108,115
Loan Type
VAAdjust Your Scenario
$19,750
$19,750$108,115
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.33% (VA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.33% + gap loan
$1,879/moAssumed loan: $1,261/mo
Gap financing: $618/mo
$493less per month with the assumable
Your Savings on This Property
5927 John Muir Trail, Colorado Springs · 3.33% VA vs 6.5% conventional
$493
per month
$5,914
per year
$177,410
over 30 years
$177,409
interest saved
How gap financing works: The equity gap ($108,115) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($88,365 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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