Loan Comparison: 2.77% vs 6.5%
4180 Slice, Colorado Springs, CO 80922 · 4bd/3ba · $530,000
List Price
$530,000
Assumable Rate
2.77%
Remaining Balance
$331,238
Equity Gap
$192,634
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$192,634
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.77% + gap loan
$2,633/moAssumed loan: $1,356/mo
Gap financing: $1,277/mo
$549less per month with the assumable
Your Savings on This Property
4180 Slice, Colorado Springs · 2.77% VA vs 6.5% conventional
$549
per month
$6,591
per year
$197,739
over 30 years
$191,611
interest saved
How gap financing works: The equity gap ($192,634) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($166,134 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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