Loan Comparison: 3.9% vs 6.5%
1367 Firefly Circle, Colorado Springs, CO 80916 · 3bd/2ba · $240,000
List Price
$240,000
Assumable Rate
3.9%
Remaining Balance
$141,485
Equity Gap
$98,515
Loan Type
VAAdjust Your Scenario
$12,000
$12,000$98,515
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (VA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 3.9% + gap loan
$1,272/moAssumed loan: $667/mo
Gap financing: $605/mo
$169less per month with the assumable
Your Savings on This Property
1367 Firefly Circle, Colorado Springs · 3.9% VA vs 6.5% conventional
$169
per month
$2,026
per year
$60,786
over 30 years
$60,786
interest saved
How gap financing works: The equity gap ($98,515) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($86,515 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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