Loan Comparison: 3.46% vs 6.5%
4245 Autumn Heights Drive, Colorado Springs, CO 80925 · 4bd/4ba · $280,000
List Price
$280,000
Assumable Rate
3.46%
Remaining Balance
$94,118
Equity Gap
$185,881
Loan Type
VAAdjust Your Scenario
$14,000
$14,000$185,881
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.46% (VA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 3.46% + gap loan
$1,622/moAssumed loan: $421/mo
Gap financing: $1,202/mo
$59less per month with the assumable
Your Savings on This Property
4245 Autumn Heights Drive, Colorado Springs · 3.46% VA vs 6.5% conventional
$59
per month
$707
per year
$21,222
over 30 years
$21,221
interest saved
How gap financing works: The equity gap ($185,881) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,000, 5% of purchase price) and a second mortgage for the rest ($171,881 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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