Loan Comparison: 2.7% vs 6.5%
15595 Copperfield Drive, Colorado Springs, CO 80921 · 3bd/3ba · $849,900
List Price
$849,900
Assumable Rate
2.7%
Remaining Balance
$455,962
Equity Gap
$393,937
Loan Type
VAAdjust Your Scenario
$42,495
$42,495$393,937
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.7% (VA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,103/moAssumable @ 2.7% + gap loan
$4,307/moAssumed loan: $1,849/mo
Gap financing: $2,457/mo
$797less per month with the assumable
Your Savings on This Property
15595 Copperfield Drive, Colorado Springs · 2.7% VA vs 6.5% conventional
$797
per month
$9,560
per year
$286,792
over 30 years
$286,791
interest saved
How gap financing works: The equity gap ($393,937) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,495, 5% of purchase price) and a second mortgage for the rest ($351,442 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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