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
$330,464
Equity Gap
$199,536
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$199,536
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.77% + gap loan
$2,683/moAssumed loan: $1,353/mo
Gap financing: $1,330/mo
$499less per month with the assumable
Your Savings on This Property
4180 Slice, Colorado Springs · 2.77% VA vs 6.5% conventional
$499
per month
$5,992
per year
$179,774
over 30 years
$179,774
interest saved
How gap financing works: The equity gap ($199,536) 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 ($173,036 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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