Loan Comparison: 3.08% vs 6.5%
4846 Justeagen, Colorado Springs, CO 80911 · 4bd/3ba · $428,000
List Price
$428,000
Assumable Rate
3.08%
Remaining Balance
$362,119
Equity Gap
$65,880
Loan Type
VAAdjust Your Scenario
$21,400
$21,400$65,880
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 3.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,570/moAssumable @ 3.08% + gap loan
$1,884/moAssumed loan: $1,542/mo
Gap financing: $342/mo
$686less per month with the assumable
Your Savings on This Property
4846 Justeagen, Colorado Springs · 3.08% VA vs 6.5% conventional
$686
per month
$8,227
per year
$246,816
over 30 years
$246,815
interest saved
How gap financing works: The equity gap ($65,880) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,400, 5% of purchase price) and a second mortgage for the rest ($44,480 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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