Loan Comparison: 2.77% vs 6.5%
4180 Slice, Colorado Springs, CO 80922 · 4bd/3ba · $545,000
List Price
$545,000
Assumable Rate
2.77%
Remaining Balance
$332,010
Equity Gap
$212,989
Loan Type
VAAdjust Your Scenario
$27,250
$27,250$212,989
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 2.77% + gap loan
$2,787/moAssumed loan: $1,359/mo
Gap financing: $1,428/mo
$485less per month with the assumable
Your Savings on This Property
4180 Slice, Colorado Springs · 2.77% VA vs 6.5% conventional
$485
per month
$5,825
per year
$174,758
over 30 years
$174,757
interest saved
How gap financing works: The equity gap ($212,989) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($185,739 at 8.5%). 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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