Loan Comparison: 3.73% vs 6.5%
6265 Wild Turkey Drive, Colorado Springs, CO 80925 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.73%
Remaining Balance
$261,592
Equity Gap
$138,408
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$138,408
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.73% (VA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.73% + gap loan
$2,036/moAssumed loan: $1,209/mo
Gap financing: $828/mo
$365less per month with the assumable
Your Savings on This Property
6265 Wild Turkey Drive, Colorado Springs · 3.73% VA vs 6.5% conventional
$365
per month
$4,385
per year
$131,553
over 30 years
$131,553
interest saved
How gap financing works: The equity gap ($138,408) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($118,408 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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