Loan Comparison: 2.68% vs 6.5%
6208 Ashmore, Colorado Springs, CO 80927 · 5bd/3ba · $585,000
List Price
$585,000
Assumable Rate
2.68%
Remaining Balance
$365,804
Equity Gap
$219,195
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$219,195
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 2.68% + gap loan
$2,940/moAssumed loan: $1,480/mo
Gap financing: $1,461/mo
$572less per month with the assumable
Your Savings on This Property
6208 Ashmore, Colorado Springs · 2.68% VA vs 6.5% conventional
$572
per month
$6,868
per year
$206,054
over 30 years
$206,053
interest saved
How gap financing works: The equity gap ($219,195) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($189,945 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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