Loan Comparison: 3.41% vs 6.5%
1820 Dewhirst Drive, Colorado Springs, CO 80951 · 3bd/3ba · $449,900
List Price
$449,900
Assumable Rate
3.41%
Remaining Balance
$178,758
Equity Gap
$271,142
Loan Type
VAAdjust Your Scenario
$22,495
$22,495$271,142
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.41% (VA)
Blended Rate: 5.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 3.41% + gap loan
$2,532/moAssumed loan: $794/mo
Gap financing: $1,739/mo
$169less per month with the assumable
Your Savings on This Property
1820 Dewhirst Drive, Colorado Springs · 3.41% VA vs 6.5% conventional
$169
per month
$2,030
per year
$60,899
over 30 years
$60,899
interest saved
How gap financing works: The equity gap ($271,142) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($248,647 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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