Loan Comparison: 4.13% vs 6.5%
3314 Valley Hi, Colorado Springs, CO 80910 · 2bd/2ba · $279,000
List Price
$279,000
Assumable Rate
4.13%
Remaining Balance
$88,610
Equity Gap
$190,390
Loan Type
VAAdjust Your Scenario
$13,950
$13,950$190,390
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.13% (VA)
Blended Rate: 7.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,675/moAssumable @ 4.13% + gap loan
$1,786/moAssumed loan: $430/mo
Gap financing: $1,357/mo
Your Savings on This Property
3314 Valley Hi, Colorado Springs · 4.13% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($190,390) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,950, 5% of purchase price) and a second mortgage for the rest ($176,440 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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