Loan Comparison: 3.03% vs 6.5%
4045 Haven Lane, Colorado Springs, CO 80917 · 4bd/4ba · $475,000
List Price
$475,000
Assumable Rate
3.03%
Remaining Balance
$278,117
Equity Gap
$196,882
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$196,882
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.03% (VA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.03% + gap loan
$2,388/moAssumed loan: $1,177/mo
Gap financing: $1,211/mo
$465less per month with the assumable
Your Savings on This Property
4045 Haven Lane, Colorado Springs · 3.03% VA vs 6.5% conventional
$465
per month
$5,575
per year
$167,251
over 30 years
$167,250
interest saved
How gap financing works: The equity gap ($196,882) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($173,132 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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