Loan Comparison: 3.77% vs 6.5%
13475 Canyons Edge, Colorado Springs, CO 80921 · 6bd/4ba · $640,000
List Price
$640,000
Assumable Rate
3.77%
Remaining Balance
$404,312
Equity Gap
$235,688
Loan Type
VAAdjust Your Scenario
$32,000
$32,000$235,688
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 3.77% + gap loan
$3,443/moAssumed loan: $1,877/mo
Gap financing: $1,566/mo
$400less per month with the assumable
Your Savings on This Property
13475 Canyons Edge, Colorado Springs · 3.77% VA vs 6.5% conventional
$400
per month
$4,797
per year
$143,916
over 30 years
$143,916
interest saved
How gap financing works: The equity gap ($235,688) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($203,688 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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