Loan Comparison: 2.87% vs 6.5%
4548 Anvil, Colorado Springs, CO 80925 · 4bd/2ba · $420,000
List Price
$420,000
Assumable Rate
2.87%
Remaining Balance
$368,681
Equity Gap
$51,318
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$51,318
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 2.87% + gap loan
$1,762/moAssumed loan: $1,529/mo
Gap financing: $233/mo
$760less per month with the assumable
Your Savings on This Property
4548 Anvil, Colorado Springs · 2.87% VA vs 6.5% conventional
$760
per month
$9,122
per year
$273,668
over 30 years
$273,667
interest saved
How gap financing works: The equity gap ($51,318) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($30,318 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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