Loan Comparison: 3.05% vs 6.5%
843 Redemption Point, Colorado Springs, CO 80905 · 3bd/1ba · $635,000
List Price
$635,000
Assumable Rate
3.05%
Remaining Balance
$415,660
Equity Gap
$219,340
Loan Type
VAAdjust Your Scenario
$31,750
$31,750$219,340
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 3.05% + gap loan
$3,075/moAssumed loan: $1,764/mo
Gap financing: $1,312/mo
$738less per month with the assumable
Your Savings on This Property
843 Redemption Point, Colorado Springs · 3.05% VA vs 6.5% conventional
$738
per month
$8,852
per year
$265,545
over 30 years
$265,545
interest saved
How gap financing works: The equity gap ($219,340) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($187,590 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.
🏠
Back to This Listing
View photos, details, and request a showing for 843 Redemption Point.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.